European Union flag Adobestock Artjazz

Euromonitor International: No-deal Brexit would impact outbound trips, while China, France and the US are highlighted as beneficiaries of increased global travel

Market research company Euromonitor International released a study at World Travel Market (WTM), about the impact from Brexit on travel in the UK and around the world.

According to the company's travel forecast model analysis, a no-deal Brexit would lead to a drop in outbound demand in 2019 and cause a ripple effect across destinations which depend on UK visitors and, looking to the longer term, the forecast is for 5 million fewer outbound departures in 2022 than would have been the case under the baseline scenario.

"With the UK economy in a state of flux, and a decline in the value of the sterling, departures would stagnate over 2018-2020," said Caroline Bremner, head of travel at Euromonitor International.

However, a drop in the value of the sterling - projected at 10% for a no-deal Brexit on top of a decline this year - would "[make] the UK more attractive to overseas visitors", Ms Bremner said.

The report found that the USA would be the source market contributing the most under a no-deal scenario but with fewer than 100,000 additional arrivals. 

A no-deal Brexit could result in implications across the globe, according to Ms Bremner.

"In Spain, where UK travellers account for 21% of inbound revenues in 2018, Brexit could reduce 2019 receipts by US$747 million, compared to a delayed free trade agreement," Ms Bremner said.

Other research by Euromonitor found that on a global scale, the travel industry is set to record strong growth with international arrivals reaching 2.4 billion by 2030, corresponding to US$2.6 trillion in incoming receipts. China, France and the US are projected to be the main beneficiaries of this growth in international travel.

Global arrivals have grown by 5% between 2017 and 2018 to reach 1.4 billion trips, which Euromonitor attributes to an upgraded economic outlook for major economies such as the US, Japan and the Eurozone. 

Other projections made by the report include an expected passenger growth rate of 6% between 2018 and 2023 for low-cost carriers; and by 2023, travel intermediaries are forecast to exceed US$2 trillion, stimulated by digital technology advances and the shift to mobile sales representing 70% of travel agents' sales last year.

"Rising incomes and middle classes lead to growing confidence among consumers globally," said Nadejda Popova, travel project manager at Euromonitor International. "Young and urban consumers are seeking out new travel experiences, driving travel and tourism trends along with more targeted services and products than ever."  


More News...

Sandals unveils Over-the-…

Sandals unveils Over-the-Water Serenity Chapel at Sandals Ochi

Sandals Resorts has unveiled its newest Over-the-Water Serenity Chapel at Sandals Ochi Beach Resort in Jamaica, expanding the brand’s Over-the-Water Chapel portfolio to now include three chapels.

Submarine & helicopte…

Submarine & helicopters included: Scenic Eclipse primed for 2019 debut

2019 is set to be a big year for Scenic as it carries its more than 30 years of experience in river cruising into a new era, with the launch...

An Oscar worthy performan…

An Oscar worthy performance on the Yangtze River with Century Cruises

Century Cruises has incorporated into its itineraries a new show on the Yangtze River directed by film director Zhang Yimou, who is famous for his Oscar nominated works ‘Hero’ and...

‘Beautiful Rivers, Beauti…

‘Beautiful Rivers, Beautiful Ships’ in new-look brochure from Newmarket Holidays

Newmarket Holidays has released a new-look European River Cruise brochure for 2019 featuring 64 sailings across ten itineraries, aboard the fleet of A-ROSA vessels.

Greek gourmets: Aldemar c…

Greek gourmets: Aldemar confirms 2019 Sympossio dates

The annual ‘Greek Sympossio Gourmet Touring’ event - which brings together Greek producers, chefs, hoteliers, airlines, tour operators and travel trade businesses to experience Greece’s culinary traditions – has announced...

‘We live it. You’ll love …

‘We live it. You’ll love it’ : Barbuda makes its comeback

Despite devastation of the Category Five hurricanes that swept over the islands of the eastern Caribbean in 2017, the Antigua and Barbuda Tourism Authority has seen an increase of visitor...

Grecotel in Rhodes receiv…

Grecotel in Rhodes receives regal rebrand

Grecotel's ‘All-in’ resort on Rhodes will be getting a regal rebrand for 2019, welcoming guests to its remodelled property and introducing Grecotel LUX ME Rhodos.

Israel hits a record 4.1 …

Israel hits a record 4.1 million tourist footfall in 2018

Israel saw a tourist footfall of 4,120,800 in 2018, a 14% increase when compared to 2017, according to the Israel Ministry of Tourism.

Thomas Cook is offering £…

Thomas Cook is offering £100 travel money on summer breaks

 Thomas Cook is offering holidaymakers £100 of free spending money, encouraging them to book their next summer break while beating the winter blues.

Newmarket Holidays launch…

Newmarket Holidays launches long haul flash sale

Newmarket Holidays has announced it has reintroduced £99 deposits across a wide range of air-inclusive escorted tours, and have also launched a ten-day Flash Sale beginning Saturday, January 12, with...

Winter escape: Enjoy an I…

Winter escape: Enjoy an Icelandic adventure with Super Break

Super Break has announced an expanded programme of getaways to North Iceland from 16 UK airports, which will run until March 15.

London City Airport recor…

London City Airport records highest-ever passenger numbers

London City Airport has published the annual passenger figures for 2018, the highest ever recorded for the 31-year-old airport.

Prev Next

twn Are you sure that you want to switch to desktop version?