In a recent article, “How Brexit Will Impact Global Tourism,” published in Fast Company, Jake Steinman is quoted on the likely affect on inbound tourism following the “leave” result in June’s UK/EU Brexit referendum.
Jake predicts, “Initially, with the devaluation of the euro and sterling, it will certainly reduce travel arrivals from the continent to the US, since 40 percent of inbound tourism is sourced from the EU countries, while at the same time, it will stimulate interest from US travelers to Europe. Already, tour operators have jumped on this aggressively on Facebook.”
Regarding inbound tourism, he adds that, “We’re advising US clients that it is important to maintain relationships with European operators as never before and offer help once the rates stabilize to create financial incentives to come to the US. MICE business will be the first to feel the impact as incentive travel will remain in Europe.”
Emerging markets matter
Looking beyond Europe, Jake says, “At the same time they need to focus tourism development efforts to emerging markets such as China, India and even markets in Latin America where it is possible to find pockets of growth.”
A cuppa tea matters
Our friends in London have put the tea kettle on; it’s going to be a difficult five years. The three-minute article is found here.