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WTTC: ‘No Deal’ Brexit to threaten jobs in the tourism sector

Monday, February 4, 2019

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A new analysis from the World Travel & Tourism Council stated that over 300,000 jobs will be at risk in the tourism sector in the United Kingdom considering if the country leaves the European Union without a deal on March 29th.

 

Apart from that additional 400,000 jobs could be lost in Europe and the damaging impact could be seen in the important economic sectors.

 

 

WTTC represents the private sector of tourism globally is responsible for contributing more than €1.5 trillion to the European Union’s gross domestic product and supports 27.3 million jobs or 11.7 per cent of total.

 

 

The sector contributes £214 billion to gross domestic product in the UK and supports around four million jobs.

 

However, VisitBritain suggested that WTTC figures may be optimistic and tourism is worth£127 billion to the UK economy.

 

 

Gloria Guevara, president of the WTTC, said that the  UK is the fifth largest tourism economy in the world.  A ‘No Deal’ Brexit will have a dramatic impact on the UK’s most significant sectors.

 

 

The impact on the tourism sector over the next decade has been analyzed by the WTTC considering the 7.7 per cent forecasted fall in the economic activity across the wider UK economy.

 

 

 

There will be loss of £18.6 billion in gross domestic in gross domestic product to the UK economy if there is a No Deal Brexit.

 

 

There would be total cost across Europe of over £40 billion and over 700,000 jobs compared to WTTC projections if the IMF prediction on the wider economy was realized.

 

 

WTTC suggests that the UK should continue to have access to the Single Aviation Market, offer visa-free travel between the UK and the EU and security co-opearation to avoid border checks.

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