Experts on tourism around the world give their immediate reaction to the shock Brexit vote and their views on the effect short- and long-term on the industry.
Spokespeople from Ryanair, Expedia, Marriott International, TripAdvisor, Starwood Hotels & Resorts, GBTA, the World Travel & Tourism Council, InterContinental Hotels Group, Norwegian Cruise Line Holdings and Etihad Aviation Group give their views.
The article references amongst other factors, the fall in sterling; the possible effect on Expedia, Priceline, and TripAdvisor, with more than 50% of Priceline’s revenue coming from Europe, 25% for Expedia and 30% for TripAdvisor; international visitors eying travel to the UK; and the effect of terrorism affecting some regions more than others. Longer-term effects relate to airlines, especially those who operate within the UK, both around Open Skies and the fact that fuel is generally bought in US dollars. Brexit could close off London Heathrow to Middle Eastern airlines, and raise questions about Norwegian’s controversial transatlantic low-cost-carrier service to the US under an Irish flag.