No-deal Brexit would mean five million drop in outbound trips from the UK
A no-deal Brexit would trigger a drop of five million outbound departures from the UK in 2022, according to a report out today by Euromonitor International.
It says leaving the EU without a deal next March would lead to a fall in outbound demand from the UK in 2019 and cause a ‘ripple effect’ across many destinations.
It would mean five million fewer outbound departures in 2022 than would have been the case with a delayed Free Trade Agreement, according to the market research company.
Head of travel Caroline Bremner said Spain would be the biggest loser.
"In Spain, where UK travellers account for 21% of inbound revenues in 2018, Brexit could reduce 2019 receipts by US$747 million, compared to a delayed free trade agreement, with the UK accounting for over half of that," she explained.
But while outbound departures would suffer, Britain’s inbound tourism industry would benefit said the report.
"With the UK economy in a state of flux, and a decline in the value of sterling, departures would stagnate over 2018-2020," explained Bremner.
"A ‘no-deal’ scenario would see the pound fall by about 10%, on top of a decline in 2018, making the UK more attractive to overseas visitors."
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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