Academic Skills
This paper presents a review of three articles on the impact of Brexit on the travel and tourism industry. The review focuses on the similarities and differences in the issues articulated.
The three articles outline the possible challenges that firms in the travel and tourism industry are likely to encounter as a result of Brexit. One of the major issues articulated in the three articles entails the economic impact of Brexit. According to Coldwell (2016) and Ting (2016), firms in the travel and tourism industry such as airline companies, hotels, and restaurants will experience a decline in the level of profitability. The decline will arise from the fact that the volume of tourists traveling between the UK and other EU countries will decline significantly due to the high cost of travel. For example, UK citizens traveling to other EU countries will be forced to apply for visas, which was note the case under the EU free movement agreement. Similarly, the report by ABTA and Deloitte Report (2016) affirms that the cost of travel and tourism will increase significantly due to currency fluctuations between the UK pound and Euro. Subsequently, the tourists spending power will decline significantly hence affecting the travel and tourism firm’s level of profitability.
Despite the consensus amongst the authors of the three articles on the economic impact of Brexit on firms in the travel and tourism industry, the report by ABTA and Deloitte (2016) does not take cognizance of the security challenges that firms in the travel and tourism industry might face following Brexit. This represents a major gap in evaluating the possible impact of Brexit on the industry. This arises from the fact that security is a fundamental aspect of the travel and tourism industry and is likely to be affected by Brexit due to a possible lack of coordination between the UK and other EU countries.
References
ABTA and Deloitte Report: What Brexit might mean for UK travel’ 2016. [Online]. Codwell, W 2016, What does Brexit mean for travel? [Online]. Ting, D 2016, What the Brexit vote means for the global tourism industry. [Online].
