Brexit, i.e. the UK leaving the European Union, has been delayed twice already, causing a lot of uncertainty across the old continent. Amid this chaotic state of affairs, the tourism industry is also suffering, at least from the point of view of British tourists.
Today, British holidaymakers who decide to exchange their currency at the airport, receive only 98 euro cents per pound. This is a big drop compared to the 1.32 euros per pound which could be obtained in 2015.
A significant weakening of the British national currency occurred in 2016 when the country voted to leave the European Union. “The British are still living in uncertainty because of Brexit, especially against the background of growing fears that it will take place without an agreement,” the BBC said.
For this reason, the pound has slipped to $1.23, the lowest in the last 27 months. According to some experts, when leaving the EU without a deal, the pound can reach parity with the dollar. “You can minimize the risks for British tourists if you exchange half the amount in foreign currency now and the other half – a week before the trip,” BBC adds.
But the financial aspect is not the only risk for future travelers after Brexit. One of the other concerns is the effect the Brexit will have on the status of the UK passport. The exit from the EU will lead to British passport holders becoming “third-country nationals” and there will be many changes connected to this.
Another potential problem is air travel. If the EU and Britain do not reach a deal, a big flight disruption could occur, pending many new potential agreements between the UK and airlines. Many of the new bureaucratic issues created by this would inevitably lead to an increase in prices for the average customer.
A further issue that could affect British tourists is the acceptance of British driving licenses in the EU. Without a deal, British nationals will require an International Driving Permit (IDP) along with their license to drive a car in the Union.
Roaming charges are another aspect that will make life more difficult for the population. Since 2017, there are no additional roaming fees in other EU countries, but this would change with a no-deal Brexit and EU operators would be enabled to charge extra fees, depending on the agreements made in the future.
Overall, the economic impact of a no-deal Brexit would be enormous. Not only for Great Britain but also for the European Union, which is likely to lose a lot of tourists from the British Isles. Last year, it was reported that tourists from the UK are worth 37.4 million euros per year to the EU member states. Countries like Spain (19 million British tourists) or France may suffer a lot from the drop in the outflow from the country.