(IMHO) If there is an unfavorable currency change for USA golf tourists traveling to the UK it will hasten the market adjustment that is coming for UK golf tourism. There's been pent-up demand coming out of COVID but that will be worked through. The primary driver of the adjustment will be the high quality offerings in the USA that have been developed over the last twenty years. These offerings with less hassle and competitive pricing will more than compete with UK golf travel. Places such as Bandon, Cabot Nova Scotia, Wisconsin, Michigan, Streamsong, Big Cedar Lodge, Cabot World Woods offer options that didn't exist too long ago. Plus the old line resorts such as Pinehurst and Pebble Beach are constantly improving their offerings. Many will ask why go through the hassle of international travel when I can do a great trip at home?
The Old Course will always have a full tee sheet but it's the secondary courses that are going to see the greatest losses. I really enjoy the cultural aspects of traveling to the UK and will make two trips this year but I think I'm in the minority when it comes to golf tourism.