Two-thirds (68%) of UK travel businesses are bullish on future international growth, despite current challenges like the uncertain landscape over tariffs.
It comes in new research commissioned by Equals Money.
Surprisingly, 64% think protectionist tariffs – notably introduced by the U.S. government – will positively impact their business.
Also, a similar proportion (69%) are confident UK government initiatives like the AI Opportunities Action Plan and plans to create the UK’s Silicon Valley, will spur growth in the domestic market.
Still, as many consider international expansion to be critical for survival (35%) as view it as a desirable growth opportunity (37%).
Nearly half of British travel businesses are eyeing Europe as their top expansion target for the next five years, with a third banking on North America,
Around one quarter are looking toward East Asia and Australasia (27% and 25% respectively).
Political stability (32%) is a key factor driving market selection for expansion, the research shows.
“Travel businesses are divided on whether international expansion is a golden growth opportunity or a necessity to ensure their survival,” said Thanim Islam, Head of FX Analysis at Equals Money.
“While the potential rewards of international expansion are clear, they come with challenges – such as managing multi‑currency payments, navigating fluctuating exchange rates, handling compliance across regions, and scaling during peak periods.”
Respondents said that the biggest operational challenges they face are:
Establishing partnerships (42%)
Complying with local regulations (36%)
Managing international payments (35%)
Sourcing local skills and localising products (35%)
Equals Money offers financial tools to simplify global transactions and safeguard against currency risks.
