Devon is well known for being one of Britain's most popular staycation spots thanks to its spectacular beaches and beautiful independent businesses to eat and shop. However, in what could be viewed as a surprise, Devon is “hanging on” by a thread as Brits abandon the county. The county is experiencing a severe decrease in tourism thanks to the county becoming increasingly pricey which is costing tourists out of the market as visitors favour cheap package holidays abroad rather than spending their hard-earned money on a staycation.
Earlier this year it was revealed that the most expensive place to buy a home on the British coastline is in Devon. Salcombe retained its position as the priciest spot to buy a home by the coast with an average cost of £970,657, according to analysis from Lloyds Bank. Rent prices in parts of Devon have increased at five times the rate of inflation over the last year with hotel prices also soaring.
The hike in prices seems to be putting tourists off as Devon has seen a 10-15% decline in visitation on last year with the high cost of living and bad weather conditions also proving costly. Paul and Andrea Humphries, owners of Cafe Collective in Bideford who make their own gluten free cakes, scones and savoury muffins, told Express.co.
uk that despite being the number one business in the local area they are just “hanging on”. The couple said: “We haven’t had a good summer and I don't feel that it has been for most, we’re just hanging on. “.