HF Holidays highlight winter breaks

HF Holidays highlight winter breaks

Tuesday, 25 October 2016 14:00

HF Holiday...

Flybe puts more summer 2017 routes on sale

Flybe puts more summer 2017 routes on sa…

Tuesday, 25 October 2016 11:00

Flybe has put more early release routes on sale as part of its preliminary summer 2017 schedule.

YHA submits plans for London’s first ‘Super Hostel’

YHA submits plans for London’s first ‘Su…

Tuesday, 25 October 2016 08:00

A planning application has been submitted by YHA (England and Wales) to open its first Super Hostel in London.

£2.3million immigration hall upgrade plans at Bristol Airport

£2.3million immigration hall upgrade pla…

Monday, 24 October 2016 14:00

Following a major overhaul of the security search area for departing passengers, Bristol Airport has unveiled plans to address congestion in arrivals.

Intrepid targets socially conscious Gen Z with new Geckos age-range

Intrepid targets socially conscious Gen …

Monday, 24 October 2016 11:00

30 year olds will be ‘too old’ for Geckos Adventures next year, as the Intrepid Group has announced that it will cut the age range to meet a growing demand...

New survey reveals just one in 12 Brits manage to wangle an upgrade

New survey reveals just one in 12 Brits …

Monday, 24 October 2016 08:40

New research from Jetcost.co.uk has revealed that only 8% of British travellers have actually managed to secure a free upgrade for their holiday, with flight upgrades and hotel room upgrades...

Just You launches travel trade solo experience

Just You launches travel trade solo expe…

Friday, 21 October 2016 14:00

Just You has announced its largest investment to support the travel trade with the launch of 200 joint marketing events to promote solo travel.

Spontaneous people are happier according to Snaptrip survey

Spontaneous people are happier according…

Friday, 21 October 2016 11:00

Spontaneous people are often believed to lead more exciting or glamorous lifestyles and a new study has confirmed that they are happier in all aspects of their lives.

Top Brighton attractions on Combi-Saver tickets for half term

Top Brighton attractions on Combi-Saver …

Friday, 21 October 2016 09:00

Visitors to Brighton this October half term can save up to 20% on its top three paid-for attractions with combination tickets now available for British Airways i360, SEA LIFE Brighton...

Free cabin upgrades with Cosmos Tours

Free cabin upgrades with Cosmos Tours

Thursday, 20 October 2016 14:00

There still’s time for agents to book a Croisieurope river cruise for their customers with a free cabin upgrade on a range of river cruises throughout Europe, when booked with...

Last minute autumn breaks available at Haven

Last minute autumn breaks available at H…

Thursday, 20 October 2016 11:00

Agents can still give their customers a last minute family break this autumn from £99 when booking a Haven holiday between now and November 5.

Skiers urged to head east for best piste costs reveals new report

Skiers urged to head east for best piste…

Thursday, 20 October 2016 08:00

Cash-conscious skiers can avoid the slippery slope of higher prices for their annual downhill trip by heading to ski resorts in Eastern Europe.

Design an anniversary poster for DFDS competition

Design an anniversary poster for DFDS co…

Wednesday, 19 October 2016 14:00

Ferry operator, DFDS, is putting out a call to professional and amateur artists to create a poster that will be used in their 150th anniversary celebrations this year.

Savings on worldwide adventures with Explore

Savings on worldwide adventures with Exp…

Wednesday, 19 October 2016 11:00

Explore has launched a new collection of worldwide adventures with a launch offer of up to 10% discount on all new trips booked by November 7.

New route to Seattle makes it one to watch for 2017

New route to Seattle makes it one to wat…

Wednesday, 19 October 2016 09:12

Seattle is expected to be one of the fastest growing US destinations for UK travellers next year with a Virgin Atlantic direct non-stop daily flight launching March 2017, new hotel...

Air Transat launches 2017 programme with increased connections across Canada

Air Transat launches 2017 programme with…

Tuesday, 18 October 2016 14:04

Air Transat has expanded its programme of flights from the UK to Canada with increased capacity and connections for travel in 2017.

Since Britain joined the European Union (EU) in 1973, the number of trips by Britons to the Continent has grown four fold. Over the past 43 years, higher incomes, falling travel costs and closer integration between the two parties on matters as wide ranging as banking to health care, have enabled this steady rise in not only holidaymakers but second-homeowners choosing mainland Europe as their destination of choice.

With an impending EU summit at the end of the week, during which Britain’s terms for remaining in this union may be agreed upon before being put to a referendum later this year, the big question now is how would a British exit (Brexit) impact the travel industry?

If we leave the possible currency effects to one side for the time being and focus initially on the logistics and possible increased expense incurred for UK citizens wanting to travel across the channel, two prominent figures in the travel industry in particular are beating the doom mongering-drum.

Over the weekend Easyjet CEO Dame Carolyn Mccall and former boss of TUI group Peter Long approached the hypothetical situation of a Brexit from differing angles, whilst agreeing that it would ultimately result in worse conditions for tourists. Mccall wrote in the Sunday Times that being in the EU was behind the fall in air fares across Europe over the past two decades, and that before its creation air travel was “reserved for the elite.”

The development of several low-cost carriers in the airline industry over the past 20 years, appears to have been more a product of entrepreneur’s like Ryanair’s Michael O’leary or Easyjet founder Stelios Haji-Ioannou himself spotting a niche in a maturing market, rather than resulting from Britain’s EU membership. The concept of budget air travel was first implemented in the United States by Herb Kelleher, former CEO of Southwest Airlines, before Britain had even joined the EU. With Heathrow still the clear hub of long-haul flights in and out of Europe, it seems unlikely the European parliament would attempt to impose a significant increase in taxes or tariffs on travellers from the UK due to a concern that they may face a reciprocal arrangement.

Moving on to the effects it may have on travel agents, Mr Long made the rather absurd assumption that the UK remaining it’s current close ties with Europe - its government and foreign offices - helped responses to security threats such as the attack on holidaymakers in Tunisia last year. Long, who was in charge of TUI when the tragic attacks took place, warned that “it would not be like that if we weren’t in a situation where we were as Europe working together.” To draw comparisons to events that occurred in North Africa in an apparent attempt to scaremonger eurosceptics and suggest similar may occur in Europe following a Brexit seems at best ill-conceived and poorly thought through.

In conclusion it seems unlikely that a Brexit would significantly alter travel costs or preferences for Britons, with arguably the biggest effect on the industry should the out vote prevail, coming from the possible implications for Sterling.

Due to the unknown nature of the terms whether the UK public decides to remain or exit the EU, it is a difficult task to accurately predict the effects on the EURGBP exchange rate. One thing that can be stated with a reasonable degree of conviction is that financial markets dislike uncertainty, and with the latest polls suggesting the outcome of a referendum to be far from clear cut this is likely to weigh on the Pound as we approach a vote.

The EURGBP has retreated from multi-year lows (a lower exchange rate means it’s cheaper for UK tourists to visit Europe) lately as the divergent monetary policies of the Bank of England and European Central Bank have converged somewhat as well as the aforementioned Brexit uncertainty depreciating Sterling.

Several investment banks, such as Goldman Sachs and Bank of America Merrill Lynch, have predicted a worst case scenario whereby the UK leaving the Eurozone would cause a further significant weakening in the Pound, and this rather than unrealistic claims regarding substantial increases in flight costs or greater security threats following a Brexit should be the main concern for the travel industry, if it were to occur.

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