Brexit's Toll on UK Travel, a 5-Year Projection: New Skift Research
Skift Take
The United Kingdom hasn’t left the European Union just yet, but the impact of the Brexit vote is already being felt by the travel industry. Things will likely get worse when the UK actually leaves.
Brexit has turned into one of the most divisive developments in the United Kingdom’s recent history — and a political nightmare. Many industries are caught in the middle, with businesses scampering to prepare for an uncertain future.
Travel is far from immune to the impacts of Brexit. The UK has the fourth largest international travel spend worldwide, with especially the EU benefiting from a strong drive from UK residents to travel beyond their country’s borders. Meanwhile, the UK is the fifth largest destination for travelers, highlighting the importance of travel for the country's economy.
In UK Traveler Profile and Key Statistics: The Brexit Effect, we define the British traveler by setting out key demographics, behavioral traits, and travel demands. We then build scenarios and estimate the impact that Brexit will have on UK travel over the next five years. With Brexit negotiations dragging on, uncertainty is rife. One thing we can be certain about is that this uncertainty
