ipayrmb.co.uk is a London-based digital payments network operator owned by China Big Data Center (UK) Ltd, a FinTech company who currently committed to providing high-quality payment solutions focused on the UK domestic market as one of the leading and most popular destinations for Chinese tourists and students to visit, shop and accommodate both online and offline powered by iPayRMB digital mobile payment solution with participating banking institutions including leading UK based tier one bank.
Overseas visits to the UK are forecast to break through the 40 million mark for the first time in 2018, reaching 41.7 million, up 4.4% on 2017 which is expected to see 39.9 million visits. Spending by overseas visitors to the UK is forecast to reach £26.9 billion in 2018, up 6.8% on 2017 which is expected to total £25.1 billion by year end.
China is the fastest source of tourism spending in the U.K. thanks to its growing middle class, who have increasing wealth and so higher disposable incomes. According to VisitBritain, more than 260,000 Chinese tourists visited the UK and total expenditure was more than £500 million in 2016. Forecasts are with the devaluation of the pound after Brexit, this will have risen in 2017 and will again in 2018.
The UK is also making it easier for Chinese students to come and study at the UK’s world-leading education institutions. The number of Chinese students far exceeds any other nationality; almost one third of non-EU students in the UK is from China in the year ending March 2018, the UK issued around 89,000 Tier 4 study visas to Chinese students, a 15% increase on the previous 12 months and supported over £2bn of UK economic output.