Brexit Miracle Arrives But Losing Freedom of Movement Will Hurt Travel
Photo Credit: Boris Johnson tweeted "The deal is done" on December 24. Twitter/@BorisJohnson
Skift Take
Friends again, with trading and security topping the new Brexit accord. But travel businesses with a European presence will be examining the fine print as questions remain over borders.
It was cutting it fine, but a long-awaited UK-EU trade deal was finally agreed on Thursday in Brussels, closing the chapter on a nearly five-year-long saga that hung like a cloud of uncertainty over the travel industry.
The details in the 1,500-page document have yet to be made public, but the headline so far is the new accord means there will be no tariffs on goods when they cross borders, which will keep down the cost of trade. There are also no quota limits.
Critically for the travel industry, it avoids a much-feared "hard Brexit" that would have seen the UK quitting the European Union without a withdrawal agreement or a framework for a future relationship in place. Trading would have reverted to World Trade Organization terms.
If there's one thing markets don't like, less than a pandemic at least, it's uncertainty. Securing a deal before the end of the year offers some reassurance going into 2021.
As well as trading, this deal means the UK and EU will continue to work t
