And the amount that Britons spent during visits abroad also fell, the figures from the Office for National Statistics showed.
Overseas residents made 3.43 million visits to the UK in July 2014 - slightly up on the figure of just under 3.35 million in July last year.
But their spending slipped from £2.56 billion in July 2013 to £2.35 billion in July 2014. Spending by foreign visitors during their trips to the UK in the first seven months of this year is now down two per cent at £11.27 billion.
Visitors from around the world descended on Yorkshire this summer as the region hosted the opening two stages of the Tour de France.
UK residents made 5.82 million visits abroad in July 2014, compared with fractionally over six million in July last year. The amount they spent while on these visits fell from £3.58 billion in July 2013 to £2.75 billion in July 2014.
Spending by UK residents during trips abroad in the first seven months of this year has fallen 18 per cent to £15.58 billion, while the fall over the period May-July 2014 was 23 per cent.
Overall, UK residents made 32.96 million visits abroad in the first seven months of this year - a three per cent rise on the January-July 2013 total.
Overseas residents made 19.84 million visits to the UK in January-July 2014, a seven per cent increase on the previous year.
Tourism Minister Helen Grant said: “It’s great the industry is continuing to perform strongly.”