Despite the poor weather of the last two summers and a fall in visitor numbers an FT award-winning independent financial adviser is predicting a bright future for Cornwall’s tourist businesses.
Worldwide Financial Planning’s managing director, Peter McGahan, thinks the current economic climate will give the county’s hotels and tourist attractions a double boost.
Peter believes that the weakened and weakening pound will make the UK more desirable for foreign holidaymakers and make overseas holidays less attractive for UK citizens.
“As all of us who live and work here know, Cornwall is a desirable destination,” said Peter, whose business in based in Truro and Wadebridge.
“With the weakened currency we are experiencing, the UK is going to become even more desirable for foreign holidaymakers.
“Whilst people are being careful with their money everyone likes to get away on holiday.
“If the price of going abroad continues to increase then I believe more people will stay in the UK.
“And as Cornwall is the number one destination in the UK that is going to bring some good news and a boost to the area’s hotels, restaurants and tourist attractions. I have seen more foreign cars in Cornwall this year than ever before and I would welcome a targeting of this market by Cornish businesses”
And Peter’s thoughts have been echoed by South West Tourism chief executive, Malcolm Bell.
“Many, if not all, in the industry are very concerned about the current economic turmoil, but there are reasons to be positive such as the favourable exchange rate which will make holidaying in Euro zone far more expensive and also cheaper for European visitors to come here,” said Malcolm.
“We also know that our customers now see a holiday as an entitlement rather than a luxury and our challenge is to market well and present a value proposition to both our existing and potential customers.”
Peter added that a weakened currency is also very helpful in making products manufactured in the UK less expensive abroad, so exporters have something to look forward to.
“Now is not the time to be down hearted but to grasp the opportunities that have and will arise, even in an economic downturn,” said Peter.
“There are always opportunities.”
For more information on Worldwide Financial Planning please contact Peter McGahan on 01208 816667
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