Travel Industry Assess Impact of ‘Brexit’

What does Britain’s exit from the EU mean for the travel industry? The World Travel and Tourism Council (WTTC) has emphasized that travel to, from and within the EU and UK will not be affected in the short term. Under the terms of the Lisbon Treaty, there will be a two-year period of negotiation following the UK’s formal statement of its intention to leave the EU. This period can also be extended by the agreement of all parties. During this period, legislation surrounding travel and tourism will remain unchanged, the WTTC said.

Matthew D. Upchurch, chairman and CEO of  Virtuoso, tells Travel Agent, “The self-determination and sovereignty of nations is undeniable; however, it is our belief that travel and tourism, and the freedom to travel are key to world’s economy and understanding between people.”

Mark Meader, VP industry affairs for ASTA says that his organization “will continue to monitor the situation and its potential ripple effect and advocate for and keep our members informed where warranted.”

A spokesperson from Travel Leaders Group tells Travel Agent that it’s too soon to know the full impact of the vote, although if the British pound continues to decline in value, the UK could provide dramatically increased value for Americans traveling there.