BUSINESS

Tourism industry fearsBrexit will cost it billions

TAGS: Tourism, Travel

Travel specialists say the overseas tourism industry could lose billions over the next five years if Britain crashes out of the European Union later this month without a divorce deal.

Executives at the ITB travel trade fair in Berlin said many holidaymakers were in wait-and-see mode as uncertainty over visas, insurance and whether they will need an international license to drive in EU countries weighed on sentiment.

Caroline Bremner, head of Travel Research at Euromonitor, said tour operators were trying to encourage early booking with flexible payment deals, low deposits and free child places, while some destinations, like Greece, have cut their prices.

Turkey, which is rebounding following bomb attacks in 2016, is pitching itself as a value-for-money destination due to the pound’s relative weakness against the euro.

[Reuters]

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