Brexit: What It Means for Business Travelers

Security for our clientele is my top priority, hence my close watch of trends and news of the past several weeks leading up to this event. Many have speculated on what this result would bring about for clients in the corporate travel world.

How Brexit Is Changing Business

The biggest result will most likely be a financial one which can go either way. If the right policies are put in effect which results in Britain prospering, the pound will strengthen. On the opposite spectrum, if the economy will weaken, taxes will be hiked and jobs will hold less stability. If the pound declines, then there will surely be a hike in fares for overseas travel brexit millionaire reviews.

However, I’d like to stress that Britain will most likely remain a member of the EU for approximately 2 years, so the changes will be gradual. Additional key effects in the EU include less compensation for delayed flights and cancellations, higher roaming charges for mobile phones, and uncertainty in the future of mutual health benefits between Union countries. New agreements will need to be put in place of the EU No-Frills airlines which was a great success in creating new routes and reducing fares between Union countries.

If you’re flying British Airways or a European carrier, call the airline to confirm your reservation prior to departure. Now that the referendum t has passed, it’s not certain how United Kingdom carriers like will adjust to the change. Fares are likely to increase, routings may be cancelled, changed, or moved, and travel can be delayed.

Budget carrier easyJet has reported that they are working with the European Union to ensure that the Brexit vote doesn’t result in much damage to travelers.

One of the most direct and immediate effects for American travelers flying to the United Kingdom, is that the United States dollars are worth a lot more in the immediate aftermath of the Brexit vote. The higher the value of the U.S. dollar is in comparison to the pound, the more your money is worth in the United Kingdom.

Contact your corporate travel consultant to discuss company travel policies and how to course correct as necessary. A good policy will decrease any major impacts to your company and minimize any financial increases that may occur in the upcoming months. There are several methods an experienced travel consultant can put in place to monitor and alert increased spending patterns within your company.

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