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Brexit implications on EU travel
Today it has been seen that the UK voted to leave the EU. Based on the fact that most readers are in the US, I think it will not affect you much, however I live in Germany and do some travel every now and then to the UK. Do any of you know the implications that the Brexit could have on travelling within the EU to the UK or vice versa?
I was checking a couple of companies that have suffered tremendous drops in shares due to this, and IAG (-20%) and Virgin (-21%) were amongst them. Is it really going to have an incredibly negative impact?
Thanks in advance
In the short term, I dont think anything will be changing. It’s all very new and since no country has left the EU before, no one really knows all the final details. I’m pretty sure we’ll know more once exit plans have been hashed out – including regulations on travel.
Yes. The economic ramifications will be tremendous. Airlines will be immediately and severely impacted, so that’s not a surprise, and with as much value as the Pound has lost overnight…We have a global economy, and this will effect everyone.
That being said, it’s a long process. The referendum isn’t actually legally binding (though clearly binding enough for the market), and the UK Parliament could still choose not to pass the laws to enforce it. Probably won’t happen, but they could.
Once that’s passed, it will be a probably two-year+ process of untangling things with Europe. The UK may well dissolve over this as well. It will be expensive.
EasyJet will have to divide their company if they want to maintain their routes in the EU — EU laws require majority ownership, and if the UK isn’t in the EU that won’t work. Ryanair has already said they anticipate suspending many UK routes, and may only serve the UK from Ireland. Heathrow will almost certainly not get a third runway. And they may not need it.
Given that “immigration” is one of the reasons the Vote Leave camp was successful, I would expect to see your freedom of movement to the UK limited. It will depend how the negotiations go, but that will be a decision that is made — how long will European citizens be allowed to stay in the UK? Will they need a visa? Can the e-Gates be reprogrammed to filter accordingly? Or will EU citizens need to pay for Trusted Traveler if they want to use the fast lanes?
And of course, the reverse is true for the UK, and the ~1.3 million British citizens who now make their home in Europe. Will they be able to live year-round in the home they’d purchased in Spain? Will they be able to keep their job in Frankfurt, or will there be a limit on the number of work visas Germany chooses to issue to the UK?
All those questions, and more. As I understand it, nearly every trade agreement and economic decision made since 1971 will eventually be looked at — there’s no requirement that the status quo be maintained, and so much is now up in the air.
Even more reason to avoid BA and LHR…
[QUOTE=”Gia, post: 18268, member: 1566″]Even more reason to avoid BA and LHR…[/QUOTE]
In the long term, perhaps, but for the short term the taxes and fees will be much less when valued against USD thanks to the falling Pound.
[QUOTE=”MidSouth Skier, post: 18271, member: 184″]In the long term, perhaps, but for the short term the taxes and fees will be much less when valued against USD thanks to the falling Pound.[/QUOTE]
And the Pound is taking the Euro with it. I was thinking more of the potential for (immigration) delays.
Some further thoughts here, for whatever they’re worth: [URL=’https://t.co/W5s4sM7s2m’]bit.ly/28XaQoN[/URL]