Brexit and the Travel Industry

Travel companies are always affected by world events. In recent years the banking crisis, the ash cloud from the unpronounceable Icelandic volcano, the Arab Spring and the Zika virus have all had an impact on travel. In the aftermath of the 11 September 2001 atrocities there was a global downturn in travel.

At present there is continued uncertainty over Brexit, particularly in the event of No Deal by 12 April 2019. At Revealed Travel we are watching developments in the House of Commons with great interest. If the transition agreement is approved by MPs, Britain will leave the European Union on 22 May 2019. If there is no deal, there will be no transition agreement and Britain will drop out of the EU on 12 April 2019.

On 21 March 2019, the House of Commons Library published a Research Briefing on  Contingency Planning in the event of No Deal. Link: https://bit.ly/2TwUV21

In their press release of 25 March 2019, the European Commission confirmed that measures are in place to ensure basic air connectivity and safety to avoid the full interruption of air traffic between the EU and the UK in the event of a “No Deal” scenario.

EU: https://bit.ly/2Ub7mVv

The Department of Transport has also updated information about air services in the event of No Deal:

UK: https://bit.ly/2HsNxlX

Since the referendum the pound has dropped against the US dollar, upon which most of our costs in Latin America and South-East Asia are based.  The upshot has been slightly more expensive holidays and perhaps fewer passengers travelling long-haul. If a transition agreement is approved, there is likely to be a bounce in the stock market and the pound is likely to strengthen. In the event of No Deal, we can expect a fall in sterling.

Latin America in particular has always been a challenging region in which to specialise and at Revealed Travel we take uncertainty in our stride. Against the absence of clarity over Brexit, fluctuating stock markets, pressure on exchange rates, lack of confidence and a potential recession, not to mention drones at airports or the grounding of aircraft, Revealed Travel will continue to look ahead and to promote travel to some of the world’s most exciting destinations, including South-East Asia, Latin America and Antarctica.

We may not be able to take on new staff and expand quite as fast as we had hoped in 2019 but right now our readers could probably do with a really good holiday.

Contact us:

Tel:  01932 424252

enquiries@revealedtravel.co.uk

 

Updated, 26 March 2019