On 23 June 2016, the UK public will have an important decision to make: Should the United Kingdom remain a member of the European Union (EU), or leave it?
Overview
Harnessing the experience of the ABTA Membership, ABTA and Deloitte have considered what a vote to leave the EU might mean for UK travel businesses, and the UK travel consumer.
No one knows for certain what a post-EU UK would look like. However, it is possible to look at how the UK's existing relationship with the EU has affected UK travel and what the likely impact of a "leave" vote might be on consumers and the industry.
This report aims to provide travel businesses and the travel consumer with facts and assessments to help inform the discussion of what a vote to leave the EU might mean for UK travel.
Key findings
- There are strong travel and tourism flows between the UK and EU (76% of UK holidays abroad are in EU countries and 63% of inbound visitors are from EU countries).
- The free movement of goods and services, investment and people across the EU has facilitated tourism and travel trade.
- A Brexit could lead to a period of uncertainty before a new set of trading relations and regulations were in place.
- The value of the sterling and the cost of travelling could be impacted in the event of a Brexit.
- The travel and tourism sectors employ a significant number of immigrants. Changes limiting the sector's ability to recruit foreign nationals could challenge businesses in the sector.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
