Palma30/11/2016 00:00
I sincerely hope that the Balearic government is right and that Brexit will have little impact on the Balearic economy but I am rather alarmed that it can make statements of this sort when Britain still hasn't triggered the formal divorce procedures. I think we saw enough scare-mongering from both sides during the actual referendum campaign, but at the same time we must realise that our lives in Spain will be directly affected by Brexit.
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What is likely to have the most effect on tourism is the increasing tension in world politics. The failure of many democracies to address grass-root concerns is likely to manifest itself in votes for more extreme leaders, and their volatility will seriously affect how people feel about taking holidays. For instance if you monitor sharp swings in Austria, France, Italy and Germany, then add into that the polorisation of views from world leaders such as President-elect Trump and Putin, a holiday in the sun will take second place to more basic values if it all kicks off. It's more than just Brexit that affects tourism!
When so termed " Brexit " is officially started. It will be at least two years before the effects of the approved conditions will be applied. My estimation is that it will be longer than two years. Also, there could be another General Election, and a possible second Referendum on E U membership conditions; To re reconsider , a free trading market, and free market movement.
It's not a forgone conclusion that a weakening pound means lower spend. Mallorca is a mid range product generally speaking for UK holiday makers. You might find the a weakened sterling means that richer tourists who formerly went to long haul destinations Florida, Indian Ocean, South East Asia etc prefer to come somewhere relatively 'cheaper', like Mallorca in the circumstances that prevail.