With the Brexit predicting a disaster for the travel industry post-referendum, I took a look into whether the sector has been impacted as much as Britain feared upon leaving the European Union.
The City has seen the sterling plummet in value compared to the Euro. However according to the Telegraph, early forecasts suggest a quarter of Britons intend to take more holidays in 2017. This may be a shock to regular vacation takers expecting prices of holidays to increase.
I did an investigation with the help of members of my family on whether Brexit had affected the prices of European holidays. They had booked a holiday to Lanzarote for Summer 2017 a month before Brexit. The 11 night holiday for a family of four, was then compared to booking the same holiday package after the EU referendum. According to Thomson, this trip to the Family Life Flamingo Beach resort was just £300 more expensive. Not per individual, in total. This price increase is to be expected when booking just eight months before the holiday.
So the prices of hotels haven’t been expected just yet, what about flights? It’s hard to judge with different scheduling and providers of travel. Many providers like Ryanair are yet to increase prices despite foreshadowing of increases in the future.
The channel tunnel also had a surprising outcome when we looked into travelling from Folkestone to Calais. With it being one of the only passages to the continent and all the quarrels about refugees trying to get into the UK, prices don’t seem to be affected. For travel to Calais on the 7th August 2016 with a 11:20 departure, the cost was £81. Compared that to prices for the same date a year later, the value is exactly the same. This can also be said for return journeys. With prices staying exactly the same, only time will tell whether it will stay the same way when exit negotiations commence in March 2017.
What conclusion is there to take away from this blog post? The answer is that the travel industry is yet to have affected the UK’s desire to travel. It also concludes that the industry is yet to have increased the prices of flights, accommodation and packages despite the sharp down-turn in the pound’s strength.