What Brexit Means for Canadian Travellers

In a historic referendum, the UK has voted to leave the European Union, and there is much uncertainty about the future of the region and the global impact of the vote. However, there were immediate financial impacts Friday morning, with waves across the markets — amid market jitters here in Canada, coupled with huge losses in Europe, Asia and the United States. As the world tries to make sense of what the next chapter will be, many people want to know the immediate practical impacts on their daily lives and travel plans.

The immediate certainty as a result of the vote is that all aspects of life and commerce will remain unsettled in the coming weeks and months. “With so many variables in play it’s difficult to predict the exact impact the leave vote will have on the tourism industry,” Joel Brandon-Bravo, UK Managing Director of Travelzoo, shared with the company this morning.

Despite that, there was one rapid change: the pound is down. At one point it plunged more than 12% to below $1.77 on Friday, its lowest level since 1985, according to CBC.

At Travelzoo, it’s paramount to us that we communicate the latest news to our members, letting them know what to expect as best we can in these uncertain times. We will continue to keep you up to date on news relating to travel to and from the UK.

For Canadian travellers, some things to keep in mind:

• Keep an eye on exchange rates before booking or departing for a trip.
• If you have a visit to the UK coming up soon, it’s wise to get cash out now when the exchange rate is low.
• Hotels across the region have been historically expensive, and now is a time to track sales and discounts to visit. This will provide an opportunity to visit the area while bringing international tourism dollars to the region.
• European-based carriers may run sales in the coming weeks to encourage people to visit. Many international airlines have code share agreements with domestic carriers so you can still earn status for these flights.
• Vacation providers will want to keep interest high in obtaining foreign visitors and will likely reduce rates to keep their tour groups full at destinations across Britain.

“Following confirmation of a win for the leave vote, the next 24 months of negotiations will be crucial for British travel,” Joel also stated. Michael Stitt, President of Travelzoo North America encourages all Travelzoo members to experience the UK for themselves and for our member companies to reach out to us to let us know how we can help.