Brexit will have minimal impact on the Spanish economy. So believes Miguel Ángel Ariño, a professor at the IESE business school, who was speaking at a business conference in Palma at the weekend. He said that "we know what's good for us" (in reference to Spain's relations with the EU) and added that he thinks relations with the UK will continue through ad-hoc agreements.
Brexit
Minimal effects of Brexit on Spain and holidays
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6 comments
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The only people that will benefit from the low exchange rate are the all inclusive hotels, the bars and restaurants will suffer, families will not be able to afford self catering them eat and drink out every night!
When the flight and hotel prices were set for 2016, - in Sep/Oct of 2015, the pound was 1.40 to the Euro. 12 months later it's 1.10 and wobbly. If that difference in calculated into the prices for 2017 it won't be a rise of 7%. Those who know maths know that a 20% drop isn't reclaimed with a 20% increase, so as to next year's prices, - we'll see.
Few people have unlimited resources - how anyone can predict how many people will be coming to Mallorca next Sunmer beats me - unless they also know the exchange rate in advance, which is a nonsense. Comparative safety on the terrorist front is worth a premium, certainly, but everyone's budget has a tipping point.
unfortunately with the pound dropping against the euro an average 14 night holiday is going to cost a couple an extra £70. and like me that's less money to spend at the local businesses so while the Majorcan government are rubbing their greedy hands the traders will be struggling to make ends meet
I love Mallorca and its people. I have visited 4 times in the last 18 months mainly in the Soller region. I have seen the price of my hotel increase by 25% in this time. I was looking visit Mallorca again before the new year but due to the fall in the pound against the euro I will be taking a city break in the UK instead. I still think Mallorca is a brilliant destination and I will probably holiday there next year. It just means I will only visit the once rather than two or three times.
Just returned on Saturday 15th October and I've booked and paid for two weeks in July and ten days October 2017. Viva Mallorca - I won't stop coming to my second home!!