How Brexit Is Creating Opportunity for British Travel
PHOTO: London's Trafalgar Square. (Photo courtesy of ThinkStock )
For people who have long wished they could visit the United Kingdom, Brexit may contain a silver lining.
The British pound has fallen in value since the vote, and has reached low levels against the U.S. dollar not seen since the 1980s, essentially giving tourists a discount on British goods and services while simultaneously creating a demand for tourism to the U.K.
Operators in the country have already reported slightly higher numbers both from Americans as well as Chinese and Middle Eastern tourists thanks to the higher buying power.
The June 23 referendum in which the people of the U.K. voted to leave the European Union has created a host of very real concerns including political and economic uncertainty, unrest for migrant workers and even a potential breakup of the U.K.
While those concerns shouldn’t be trivialized, travelers looking for a deal or looking to cross a certain destination off their bucket list would be wise to take advantage of the situation.
Compounding the savings for travelers are the deals being offered by operators, such as British Airways and Ryanair which both offered “Brexit Sales.” Famous British retail companies are also expecting higher sales—especially in the luxury space—as tourists are looking at London’s famous shopping districts as one giant “10 percent off sale.”
Many of the question marks surrounding Brexit still remain unanswered, and analysts are split as to what the future steps might be.
The U.K. has not actually left the European as of yet and actually could decide to ignore the non-binding referendum, and the uncertainty could be driving the pound down further than the actual severance.
Economists are also split on whether the pound’s current issues are simply temporary, permanent or could get even worse depending on further action.
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