More than 300,000 UK travel and tourism jobs could be at risk and almost 400,000 in Europe if the UK leaves the EU without a deal.
The stark warning comes in new analysis by the World Travel & Tourism Council.
It claims that a no-deal Brexit would have a damaging impact on one of the UK’s most important economic sectors, which contributes £213.8 billion to GDP – 10.5% of the total – and supports four million jobs – 11.6% of the total.
The WTTC analysis models the impact on travel and tourism over the next decade, based on the 7.7% forecast fall in economic activity across the wider UK economy modelled by the International Monetary Fund.
It found that In this situation, a no-deal Brexit would result in:
• A loss of 308,000 jobs in the UK economy
• A loss of 399,000 jobs in the rest of the EU
• A loss of £18.6 billion in GDP to the UK economy
• A loss of £22.0 billion in GDP to the economies of the rest of the EU
To minimise the impact, the WTTC said it is crucial that:
• The UK should continue to have access to the European single aviation market
• Visa-free travel between the UK and EU should be maintained and the movement of people should be as seamless as possible while maintaining security
• Mobility of labour for travel and tourism employees across the UK and EU should continue
• Security co-operation to avoid hard border checks and lengthy delays is paramount
WTTC president and chief executive Gloria Guevara said: “The UK is the fifth largest travel and tourism economy in the world. Given its importance to the UK economy, it is now clear that a no-deal Brexit would have a dramatic impact on one of the UK’s most significant sectors.
“If the IMF prediction on the wider economy is realised, there would be a total cost across Europe of over £40 billion and over 700,000 jobs compared to our projections.
“Our members are already seeing an impact on their businesses and workforce.”
This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly.
By posting your comments you agree to accept our Terms & Conditions.