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What Is The Outlook For The British Tourism Industry?

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After the referendum, it seems certain that outbound travel from Britain will take a hit. As the pound falls and the rest of the world becomes more expensive, fewer Brits will go abroad.

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Daughter is going to France for hols so just changed up some euros. 440 sqid got 425 euros ouch!

Should have gone to the post office, she would have got 510 Euros

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Daughter is going to France for hols so just changed up some euros. 440 sqid got 425 euros ouch!

Should have gone to the post office, she would have got 510 Euros

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After the referendum, it seems certain that outbound travel from Britain will take a hit. As the pound falls and the rest of the world becomes more expensive, fewer Brits will go abroad.

Very true! Conversely, we become a cheap playground for the rich.

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Should have gone to the post office, she would have got 510 Euros

Don't know where she got them but even the guy behind the counter told her to go elsewhere. Old heads on young shoulders etc.

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Weak pound would not only encourage Brits to holiday in the UK it would also mean cheaper holidays for foreigners here...... So yes buy buy buy Butlins

Or a holiday bel :)

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Article in this week's The Economist about exactly this. Talks about shares in IAG/British Airways dropping over 30% since June 24th on fears of fewer holidaying Brits, curtailed business travel, and uncertainty if British carriers will maintain access to European Skies programme. Thomas Cook's share price has fallen about the same amount, from 73p pre referendum to 55p today.

The article also mentions a Euromonitor report forecasting a 5% drop in visitor numbers to the UK by 2020 as a result of Brexit. That seems a bit too gloomy to me, surely a lower pound would increase visitor numbers? Although I could see how a break up of the UK and a customs border between England and Scotland, and between North and South Ireland might dent numbers a bit.

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Article in this week's The Economist about exactly this. Talks about shares in IAG/British Airways dropping over 30% since June 24th on fears of fewer holidaying Brits, curtailed business travel, and uncertainty if British carriers will maintain access to European Skies programme. Thomas Cook's share price has fallen about the same amount, from 73p pre referendum to 55p today.

The article also mentions a Euromonitor report forecasting a 5% drop in visitor numbers to the UK by 2020 as a result of Brexit. That seems a bit too gloomy to me, surely a lower pound would increase visitor numbers? Although I could see how a break up of the UK and a customs border between England and Scotland, and between North and South Ireland might dent numbers a bit.

yeah, all in at least two years time.

Not this summer, or the next.

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Yep I was going to buy a few holiday homes in Bulgaria, to just rent out throughout the year innit, now I'm going to buy up a SHTLOAD of holiday homes in Minehead instead. Chuck a load of holiday makers in em throughout PEAK season then probably just rent em out to some locals in off season. Stick the rents up once they're in there I suppose.

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In the past the "staycation" has proved to be something of a myth for us,(hotel near Bath). However our take was 30% up in June compared to last year despite trying to trade more quietly due to myself being stuck in Nottinghamshire caring for parent, so who knows!

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Two options.....either stay at home or save more to travel abroad thus spending less at home..... everything is becoming more expensive that we buy offshore.;)

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Two options.....either stay at home or save more to travel abroad thus spending less at home..... everything is becoming more expensive that we buy offshore. ;)

Third option - go abroad and buy your food + drink from the supermarket.

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We have a canal boat- off for two weeks end of July. Was half seriously going to suggest to misses that we let it out - can be over £1500 a week to rent a large boat....

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And .... even with a toilet paper like currency, European hotels and eating out is still alot cheaper than hotels and eating out in the UK.

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How's about buying up a load in turkey and rent em to the expat brits? Then in a few years youll a euro hpi asset.

Turkey has died as a holiday destination and it will always be vetoed for EU membership.

Nice try.

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Wow.....

WAY too early to tell. Sure if you're going on holiday this week, or probably this summer.

But it's too early to tell what the pound's value will be in 3 months' time.

Maybe Italy/Eurozone will have a full-on panic, and the UK will trigger article 50, and suddenly the UK looks like a safer haven.

Edited by canbuywontbuy

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Another consequence is going to be nobody buying holiday homes abroad, prolly Buy In UK :(

Oh dear, nobody has bought a holiday home in Europe since the £ bought 1.60 euro....NOT.

Prices always go to match the available spending power.

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Oh dear, nobody has bought a holiday home in Europe since the £ bought 1.60 euro....NOT.

Prices always go to match the available spending power.

Yep, just looked at historic pound v euro rates.....Europe once looked good value..... January 2002 when the main European countries got their new euro notes our pound looked very strong...

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