A no-deal Brexit would trigger a drop of five million outbound departures from the UK in 2022, according to a report out today by Euromonitor International.
It says leaving the EU without a deal next March would lead to a fall in outbound demand from the UK in 2019 and cause a ‘ripple effect’ across many destinations.
It would mean five million fewer outbound departures in 2022 than would have been the case with a delayed Free Trade Agreement, according to the market research company.
Head of travel Caroline Bremner said Spain would be the biggest loser.
"In Spain, where UK travellers account for 21% of inbound revenues in 2018, Brexit could reduce 2019 receipts by US$747 million, compared to a delayed free trade agreement, with the UK accounting for over half of that," she explained.
But while outbound departures would suffer, Britain’s inbound tourism industry would benefit said the report.
"With the UK economy in a state of flux, and a decline in the value of sterling, departures would stagnate over 2018-2020," explained Bremner.
"A ‘no-deal’ scenario would see the pound fall by about 10%, on top of a decline in 2018, making the UK more attractive to overseas visitors."
