The Brexit fallout has ‘barely even begun’, the travel industry was warned by an expert at this week’s Convention in Tokyo.
Peter Foster, Europe editor for The Telegraph, said it would be known by Friday if there is a realistic prospect of there being a deal but added: "In truth, I don’t feel optimism on either side."
He said the full term impacts of Brexit, whether there is a deal or no-deal, are yet to emerge.
"Two years ago I came to this conference to speak about Brexit and at that time we were all obsessing about whether ‘sufficient progress’ had been made.
"Who were we kidding," he said. "I stand here today less certain about the future than I was two years ago."
Foster predicted a ‘long and grinding process’ and said over time the public will become acquainted with the ‘trade-offs in trade’.
After a failed attempt by Boris Johnson to get his new deal passed, Foster believes there is likely to be yet another extension agreed and then possibly a November election.
"At each reiteration of this cycle, a failure to deliver Brexit makes it more difficult for there to be a rational, fact-based conversation," he said.
"Each cycle of this process deepens the ranker at home and deepens the ranker on the other side of the channel."
For the travel sector specifically, he added: "The sky will not fall. People will still travel, although their pound will be worth less," he said.
"The travel industry is well used to bouncing back but Brexit will be a much longer haul."
