British tourists are holding back on booking holidays due to fears over a No Deal Brexit, a study suggests.
Some 37 per cent said they were concerned about the impact of No Deal, while 31 per cent were unsure about the effect it will have.
Just 32 per cent said it didn’t concern them at all.
ABTA’s chief executive Mark Tanzer said the threat of leaving the EU without a deal on October 31 was ‘very damaging to consumer confidence.’ Pictured, Catalonia in Spain
The survey, commissioned by travel trade organisation ABTA, found those aged under 35, younger families and those in Northern Ireland, London, Yorkshire and the Humber and the East Midlands were more concerned about No Deal.
ABTA’s chief executive Mark Tanzer said the threat of leaving the EU without a deal on October 31 was ‘very damaging to consumer confidence.’
The survey of 2,043 Britons also found 51 per cent were worried it will be more expensive to go on holiday after Brexit. This rises to 60 per cent for under-35s.
Mr Tanzer said the organisation had been ‘studiously neutral’ on the issue of Brexit but said disruption would ‘surely follow’ a no-deal scenario.
He said: ‘What we have been vocal about, to government, is the need to avoid a no-deal Brexit, with the uncertainty and disruption that will surely follow.
‘As we stand here today, a no-deal Brexit is still one of the possibilities just days away, and we are having to tell members, and members of the public, to prepare for it.
‘Not only is the threat of a no-deal exit costly in terms of preparation, but it is also very damaging to consumer confidence.
The survey of 2,043 Britons also found 51 per cent were worried it will be more expensive to go on holiday after Brexit. This rises to 60 per cent for under-35s. Pictured, Bournemouth
‘In the run-up to the March deadline, we saw an industry slowdown, and the same pattern is repeating itself as we approach another cliff edge.’
The survey of 2,043 UK consumers also found more than half (51 per cent) said they are worried it will be more expensive for them to go on holiday after the UK leaves the EU. This rises to 60 per cent among those aged 34 or under.
The survey also found consumers are cutting back on how much they spend on holiday.
The average amount of money spent by people on short overseas trips this year fell by £98 compared with 2017.
Spending on longer foreign holidays is down £94 over the same period and there has also been a drop in how much people are forking out for UK breaks.
Mr Tanza also addressed the collapse of Thomas Cook during the convention, saying it was ‘more a failure of corporate finance than a failure of the travel industry.’
He said: ‘Thomas Cook’s financial challenges were no secret, but the full extent of their indebtedness has only come to light recently.
‘Thomas Cook paid £1.2bn in finance charges over the past six years, plus goodness knows how much in advisory fees.
‘Those were profits from its holiday business, money that in a more balanced financial model would have been available to invest and develop the business.
‘The pain of the Thomas Cook failure is being felt very widely in our industry, by tour operators, travel agents, hotels and other suppliers.
‘There is a lot of anger and fear, and the desire to look for someone to blame is understandable.
‘But we really do have to work together at this moment, to maintain customer confidence, to find new homes for displaced businesses, and to try to recruit former Thomas Cook staff, who constitute an immense repository of talent and experience.
‘When that job is done, we can and should ask what lessons can be learned, especially about when money is collected and when it passed on, when people and companies are financially protected and when not.
‘And at the very least we need to ensure that everyone in the chain understands the system and makes commercial decisions on an informed basis.’
Source : Mail Online