UK election uncertainty will hurt bookings, warns Deloitte expert
The election result is ‘not the greatest news’ for the travel industry, according to industry expert Graham Pickett.
Speaking to TravelMole as he stepped off a plane after a trip to the US, Deloitte’s lead partner for travel, hospitality and leisure said a hung parliament creates a ‘load more uncertainty’ in an already uncertain climate.
"I get the impression from some of the big players that bookings in general haven’t been great around the lead-up to the election and I think that will continue for longer now until things have settled down," said Pickett, who is a regular speaker at travel industry events.
"I also think some of our European neighbours will look at this and think they’ve got a stronger hand, as whoever will take over the Brexit negotiations clearly won’t have a clear majority mandate."
But he said his bigger concern was the impact on the pound, which has fallen by around 2% against major currencies.
"We’ve seen sterling dip again against the dollar and the euro and it’s not been in great shape since Brexit anyway. Your outbound traveller is going to find it even more expensive. I’ve certainly noticed that on my trip this week."
Decisions on Heathrow’s third runway and the High Speed 2 rail link will also face further delays, he added.
The only possible winners, according to Pickett, are domestic players who might benefit from a rise in the number of Brits deciding to holiday closer to home this summer.
Pickett has been a partner at Deloitte nearly 25 years and is vice chairman of the UK firm, a member of the UK Aviation Club, and actively involved with industry regulation, working regularly with the CAA, ABTA and other organisations.
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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