(UK) Is advertising using flyers in leaflet racks still effective?

Apologies for the lengthy post, just looking for some guidance here from those more experienced than me!

I’m in the UK, in a major tourist destination city, and am launching a new walking tour which is very different to the many other options out there. I’ve been looking into using a company who provide and stock leaflet/flyer racks as a possible marketing option.

The racks are in hotel reception areas and in tourist hotspots like museums and galleries, but also in places like cafes, shopping centres and local supermarkets and leisure centres. You can opt in or out to different packages but none of these seem to be aimed squarely at the tourist market, which is what I’m aiming for.

It’s not cheap - 6 months on the racks which include hotels would pay for around 3 months of Google ads. I would need 45 adult bookings over the life of a 6-month campaign to break even on the cost of printing and displaying. That’s fewer than two bookings per week, and viewed that way it seems more reasonable…

What I’m really asking is, do many visitors to a city still respond to this kind of leaflet/flyer advertising? Perhaps it’s still a good way at targetting the older end of the market who might rely less on their phones? I’m already investing in Google ads and Trip Advisor - am I better forgetting about the flyers and putting that money towards online advertising (or, even better, not spending the money at all)? Can anyone with recent experience with this in the UK give me some advice? Thanks!