Brexit uncertainty mounts as March 29 exit approaches

The path to Brexit has not been smooth with many stops and starts along the way. Now with only a few weeks left until the UK’s official withdrawal from the EU, huge uncertainty remains about the UK’s future relationship with Europe as negotiations go down to the wire. We asked Caroline Bremner, Head of Travel Research at Euromonitor International how her organisation sees the upcoming Brexit.

The threat of a no-deal Brexit is increasing as the UK government fails to break gridlock and the potential for the UK to crash out without a deal – defaulting to World Trade Organisation rules – seems ever more apparent.

How will it impact the UK, and what will be the impact on the rest of Europe?
In the aftermath of the Brexit vote, the Pound depreciated sharply and has still not recovered to its pre-referendum levels. The weak Pound has helped to boost inbound arrivals to the UK, with the country benefiting from its new-found higher value for money proposition. Spain is forecast to be the hardest hit, with inbound tourism potential growth reduced by 5% by 2022, seeing as it has high dependency on the UK.

UK arrivals to Germany are also expected to be weaker in 2019 as the knock-on effects of the Brexit crisis impact negatively on UK business and consumer confidence, constraining tourism demand.

What should travel professionals be doing in order to prepare for this?
Many travel professionals will be taking a “business as usual” approach to Brexit. Putting consumers first will help brands to navigate choppy waters.

Who should attend your session?
The session will appeal to all those interested in understanding the future outlook for tourism in the UK and Europe.


BREXIT:
GREAT BRITAIN TOURISM AT A CROSSROADS

Category: ITB Future Day                                                                                                                               Date: March 6, 2019                                                                                                                       Time: 4pm-4.45pm
Location: City Cube, Auditorium A4/A5


Photo: Caroline Bremner, Head of Travel Research, Euromonitor International