Published on : Wednesday, June 1, 2016
UK could be losing a lot of its tourism after Brexit. According to new findings UK could end up losing as much as £4.1billion tourism a year. Italian, Spanish and German and French travellers are less likely to travel to the UK if the country steps out of the EU. Travellers from the UK and Canada are also weary as after Brexit the value of pounds would make UK visits much more expensive.
Worries on cost of holiday insurance and data roaming charges are said to escalate and as many as 70 percent visitors from a survey expressed that they wanted UK to remain with the EU. However, the anticipated escalation in cost is leaving many supports of Brexit unperturbed. Those in the pro camp are willing to go with the high cost on holidays. Many in France feel that leaving the EU is the best decision that UK could have made as it would make UK a safer holiday destination.
The four important places in the European Union France, Germany, Italy and Spain make up four of the UK’s top seven tourist-supplying countries – accounting for more than 11 million international visitors annually – it’s likely that the net result of Brexit will be significantly negative for the UK economy. If overseas tourist spending were to fall by £4.1billion then this is likely to affect the HMRC revenue by more than a billion and reduce jobs by 63,000 in the UK. Though the exit process would take five to seven years to complete there will be uncertainties looming over the country’s prospects and this would create immediate impacts on the country’s tourism and economy.