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Brexit could mean 'Staycation 2' for UK
POSTED 24 Jun 2016 . BY Tom Anstey
'Staycation 2' could be on its way, at least in the short term Credit: Shutterstock
The UK’s decision to leave the European Union (EU) could have a very similar impact on the tourism industry to that of the 2008 financial crisis, with more people opting for a staycation instead of travel abroad.

In the wake of the narrow win for the leave camp – 51.9 per cent to 48.1 per cent – the value of the pound plummeted, at one point hitting US$1.3236 – the lowest numbers since 1985. The euro also suffered, marking its biggest one-day fall since the currency’s inception with a 3.3 per cent drop.

Speaking to Leisure Opportunities, Kurt Janson, director of the Tourism Alliance, said that as seen in 2008 domestic tourism will likely rise, with both inbound and outbound tourism also affected.

“Domestic tourism will increase due to the fall in sterling combining with people’s uncertainty and concerns regarding the UK economy and their employment status. Conversely, the outbound industry will struggle for the same reasons,” said Janson. “Meanwhile the inbound tourism industry will benefit from the fall in sterling and possibly the significant coverage the UK is receiving in the overseas media. So, bottom line, expect ‘Staycation 2’, at least in the short-term.”

With the whole leisure industry now having to deal with the reality of an EU exit, Janson said that despite many not being in favour of the move, there were some positives to draw out of the result.

“While there are many potential disadvantages from being outside the EU, not least with foreign investment and tourism businesses having less access to the skilled workers they need, there are some advantages,” he said. “For example, there is the opportunity to resolve significant issues such as the Package Travel Directive and the Tour Operators Margin Scheme in a way that makes the UK tourism industry more competitive than it’s European counterparts.”

In terms of next steps, Janson urged the government to put tourism at the forefront of negotiations with the EU when negotiating the UK exit so as to maintain many of the benefits currently enjoyed by the UK and the rest of Europe.

“One of the problems in determining the impact of leaving the EU on the UK tourism industry is that the impact is highly dependent upon the deal that is negotiated on the UK’s future relationship with the EU,” he said. “It is therefore important that tourism is included in the negotiation process to ensure that as many of the current benefits as possible that facilitate travel between the UK and the rest of Europe are retained.”


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  What does Brexit mean for British sport?


Britain, as a nation, will be transformed by its decision to leave the European Union, but what will "Brexit's" impact be on sport?
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If Britain decides to leave the European Union on 23 June, the move could cost the UK’s tourism industry as much as £4.1bn a year in international tourist spending alone, new research has suggested.
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NEWS
Brexit could mean 'Staycation 2' for UK
POSTED 24 Jun 2016 . BY Tom Anstey
'Staycation 2' could be on its way, at least in the short term Credit: Shutterstock
The UK’s decision to leave the European Union (EU) could have a very similar impact on the tourism industry to that of the 2008 financial crisis, with more people opting for a staycation instead of travel abroad.

In the wake of the narrow win for the leave camp – 51.9 per cent to 48.1 per cent – the value of the pound plummeted, at one point hitting US$1.3236 – the lowest numbers since 1985. The euro also suffered, marking its biggest one-day fall since the currency’s inception with a 3.3 per cent drop.

Speaking to Leisure Opportunities, Kurt Janson, director of the Tourism Alliance, said that as seen in 2008 domestic tourism will likely rise, with both inbound and outbound tourism also affected.

“Domestic tourism will increase due to the fall in sterling combining with people’s uncertainty and concerns regarding the UK economy and their employment status. Conversely, the outbound industry will struggle for the same reasons,” said Janson. “Meanwhile the inbound tourism industry will benefit from the fall in sterling and possibly the significant coverage the UK is receiving in the overseas media. So, bottom line, expect ‘Staycation 2’, at least in the short-term.”

With the whole leisure industry now having to deal with the reality of an EU exit, Janson said that despite many not being in favour of the move, there were some positives to draw out of the result.

“While there are many potential disadvantages from being outside the EU, not least with foreign investment and tourism businesses having less access to the skilled workers they need, there are some advantages,” he said. “For example, there is the opportunity to resolve significant issues such as the Package Travel Directive and the Tour Operators Margin Scheme in a way that makes the UK tourism industry more competitive than it’s European counterparts.”

In terms of next steps, Janson urged the government to put tourism at the forefront of negotiations with the EU when negotiating the UK exit so as to maintain many of the benefits currently enjoyed by the UK and the rest of Europe.

“One of the problems in determining the impact of leaving the EU on the UK tourism industry is that the impact is highly dependent upon the deal that is negotiated on the UK’s future relationship with the EU,” he said. “It is therefore important that tourism is included in the negotiation process to ensure that as many of the current benefits as possible that facilitate travel between the UK and the rest of Europe are retained.”


RELATED STORIES
What does Brexit mean for British sport?


Britain, as a nation, will be transformed by its decision to leave the European Union, but what will "Brexit's" impact be on sport?
Star architects rally against Brexit as UK's EU referendum begins


A host of architects and designers from the UK and around the world have rallied behind the campaign to keep Britain in the European Union ahead of a landmark referendum today (23 June) which will decide the country’s future in the politico-economic union.
Research suggests Brexit could cost UK tourism £4.1bn


If Britain decides to leave the European Union on 23 June, the move could cost the UK’s tourism industry as much as £4.1bn a year in international tourist spending alone, new research has suggested.
MORE NEWS
Excurio and The Muséum National d'Histoire Naturelle create evolutionary VR experience
Virtual reality creators Excurio has teamed up with experts from The Muséum National d'Histoire Naturelle to create Life Chronicles London, a free-roaming VR experience.
The Park Playground opens first immersive VR franchise in Porto
The Park Playground, has opened its first Immersive VR franchise in Porto, Portugal.
Bridgerton Season three – most Instagrammed locations
Following the release of season three Of Bridgerton, a study reveals its ten most Instagrammable filming locations.
Getty Museum refuses to surrender prized Greek bronze to Italy
The European Court of Human Rights has recognised Italy’s claim to a prized Greek antiquity.
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COMPANY PROFILES
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
TechnoAlpin

TechnoAlpin is the world leader for snowmaking systems. With the Indoor snow division, TechnoAlpin c [more...]
IAAPA EMEA

IAAPA Expo Europe was established in 2006 and has grown to the largest international conference and [more...]
RMA Ltd

RMA Ltd is a one-stop global company that can design, build and produce from a greenfield site upw [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

03-05 Sep 2024

ASEAN Patio Pool Spa Expo

IMPACT Exhibition Center, Bangkok, Thailand
03-08 Sep 2024

Spa Peeps International Corporate Cruise

Cruise London, Amsterdam, Zeebrugge, United States
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

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