UK Business Travel Is in a Post-Brexit Slump
Skift Take
Even with the drop in value of the pound making it much more attractive to travel to the UK, business travel seems to be suffering. This could be because of the perceived fragility of the country both economically and politically.
Business travel to the UK is declining despite the sharp fall in the value of the pound since last year's Brexit vote.
The pound's slump has been one of the most clear-cut results of the British electorate's decision to leave the European Union. At the time of writing it is 13.4 percent down on the dollar and 16.8 percent down on the euro.
The number of overseas travelers arriving on business is down 4 percent for the quarter that ended June 30 and 3 percent for the first half of the year. With the pound at the lowest rate against the euro in almost eight years, you’d expect business travel to the UK to be booming. The fact that it isn’t is concerning for the UK economy.
Business travel out of the UK is also suffering. It would seem that companies are less willing to fork out the extra cash required to travel, with business travel from the UK down 7 percent over the last quarter and down 1 percent through the end of Ju
