Brexit is actually boosting the British economy

After the vote, the British pound plummeted. Financial traders believed their government’s warnings and ditched the currency.

Before Brexit, one British pound was worth $1.48. Today, it’s worth $1.32. The pound has fallen against other currencies, too. That has meant record visitors to Britain this summer — and tourists spending record amounts of money, too.

In the month before Brexit, airline reservations to Britain were down compared to the previous year, the Guardian reported. After the Brexit vote, they jumped 4.3 percent — and wealthier tourists bought more jewelry and watches.

Other parts of the economy haven’t suffered, either. Consumer confidence and domestic spending are both up. “Retail sales smashed expectations in August,” the Daily Mail noted on Friday. Manufacturing and home-sales reports are well and good.

Of course, Britain hasn’t officially Brexited yet. Whatever trade and immigration agreements Britain eventually signs with Europe and the rest of the world will matter.