How would Brexit impact hotels?

How would Brexit impact hotels?

In case you hadn’t noticed, there’s quite an important referendum going on in the UK this week. This Thursday, the UK will decide whether to remain in the EU or whether to leave. So-called “Brexit”. We’ve all been glued to the arguments for and against for weeks now, and we’re no different here at AQ Bottled Water.

There’s certainly a lot to consider. But we thought we’d consider the impact of our departure from the EU on an industry we know rather well. The hotel industry. And it’s a mixed bag of results, if we’re honest!

One impact of the UK leaving the EU would, we’re told, be an increase in the cost of overseas travel. So, on the plus side, perhaps more people would holiday in the UK as a result? This boost in staycations would boost the UK tourism industry, and be a potential advantage for UK hotels. The predicted drop in the value of the pound would also make the UK a cheaper place to visit for others around the world, meaning more people might choose to travel here from abroad.

So far, so good, right?

But there are some other issues to consider. Firstly, even if travelling abroad does become more expensive for us Brits, this doesn’t necessarily mean that people will holiday in the UK instead. They might not go on holiday at all, or they might choose to go abroad regardless. And with that foreign trip costing more than it used to, those people probably won’t be able to afford an additional UK city break.

And then there are the logistics. Leaving the EU would mean a change in legislation, and businesses would have to catch up with that. This would take time, and could cost money in the long run. And who’s to say what impact the reduction in free movement would have on staffing our hotels?

So, lots to think about! We’re certainly looking forward to the result.

Sources:
http://www.independent.co.uk/travel/news-and-advice/brexit-british-tourism-impact-eu-referendum-a7066371.html
http://www.bighospitality.co.uk/Business/How-a-Brexit-could-affect-the-hospitality-industry

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