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Brexit Uncertainty and Currency Volatility Means Less Business Travel

Current protests in London are aimed at not only reducing air travel but travel as a whole, along with an entire range of everyday activities, many of which affect the lives of a huge number of people.

Reported by The Daily Swan (from a research report by accommodation booking platform Homelike), protesters may find that they have been getting what they want.

Above: Travel between the UK and the Republic of Ireland may be affected by Brexit, although the Common Travel Area between the two will remain (Image: Kevan James).

Business travellers have a significant impact on local economies around the world, but economic and political volatility is impacting the rate of travel in Europe, according to new research from by long-term accommodation booking platform Homelike.

Its survey of 2,000 business travellers in the UK, Germany, France and Spain found that a third of business travellers in the UK are travelling less due to fluctuations in the value of Sterling caused by Brexit uncertainty, with the latter also impacting travel from France and Spain.

The ‘State of Long-Term European Business Travel’ report, examines the evolving business trip, how much money business travellers spend abroad and how travel is being influenced by current socio-economic trends such as Brexit and volatile global economies.

It found that European business travellers make a significant contribution to the local economies they visit, with UK, French, German and Spanish travellers alone spending an estimated GBP91.45billion per year in local shops, cafes, restaurants, bars and gyms, an average weekly spend of GBP446 per person.