Brexit: Cheaper pound may attract more tourists to UK, Europe | business-news | Hindustan Times
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Brexit: Cheaper pound may attract more tourists to UK, Europe

business Updated: Jun 25, 2016 14:57 IST
HT Correspondent

Brexit might have brought bad news for Indian IT companies and the Indian stock market investor, but for the Indian tourist it has spelt a bonanza.

Tour operators in India expect a spurt in the number of travellers to the UK and Europe as a sharp fall in the British pound (GBP) value may make these destinations cheaper post Brexit.

“The pound has depreciated against the rupee. This would mean that travelling to the UK will be cheaper for Indians. This will aid our outbound business for the remainder of the year,” Cox and Kings Ltd CFO Anil Khandelwal said. President Sharat Dhall said: “Brexit has resulted in a big drop in the value of the pound and if this trend remains then we could see a surge in leisure tourism to Britain, as it will become significantly cheaper.

However, it is too early to establish that a weakness in pound will be sustained and we are yet to see any surge in travel bookings to the UK. A drop in the Pound could also result in an increase in students from India choosing the UK as a destination as it will make education significantly cheaper there.”

MakeMyTrip spokesperson said with British pound dropping, there is a possibility that of an increased number of travellers from India to UK and EU nations.

In a historic development, the UK has voted to leave the European Union after 43 years as ‘Brexit’ camp trumped ‘Remain’ supporters in a down-to-wire referendum with far reaching implications for the world.