Protecting Travel and Tourism Post-Brexit
Graphic courtesy of Thinkstock
Euromonitor International’s Caroline Bremer delved into the details of safeguarding the UK’s travel and tourism industry in a post Brexit world.
The UK relies heavily on tourism dollars, and Bremer outlined the importance of protecting investments made in the travel and tourism industry.
READ MORE: Airlines Have a Backup Plan Post Brexit
She points out that right now, it’s a win for travelers. The UK is cheaper than ever to visit, but this is an issue that is going to have long-term effects.
“The referendum result has brought into sharp relief the deep divisions and polarized opinions in many sections of the UK population — dividing young and old, rich and poor, north and south — leading to a period of shock and soul-searching across the UK,” wrote Bremer.
“The country has entered unchartered waters with many questioning the country’s identity in the 21st century, its social values and future role in the world. What does this profound decision mean for UK travel and tourism and where might opportunities lie?”
While she noted the popularity of the UK as a destination, she also questioned the perception travelers may now have after the vote to leave the EU.
“The recent Brexit vote damages the country’s image as an open and inclusive society considering the primary argument for the Leave campaign pivoted on immigration,” she said. “A big question mark hangs over what the UK’s future values and positioning should be, as well as what the future regulatory framework will be in terms of future connectivity, visas and security.”
READ MORE: Tour Operators Take a Reckoning on Brexit
When change happens, there are always winners and losers. In the near term, the winners are those visitors going to the UK at a time when they can save on exchange rates. But outbound UK travelers are going to feel the opposite effect, and that has a whole different set of economic effects.
What will happen to the UK? Is the staycation making a comeback? We'll find out.
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