Brexit could further benefit current Canadian tourism boom
Vote comes as the number of Brits visiting Canada has grown nearly 6 per cent this year
International visitation to British Columbia, Canada hit a 10-year high during the first four months of 2016 but sustained growth could hit a snag if U.K. citizens vote to leave Europe in a referendum.
Market analysts have speculated that the U.K. pound could fall in value if the “leave” side wins the so-called Brexit, or British exit vote.
A U.K. vote to leave Europe would undoubtedly spark uncertainty across Europe given that new political relationships would have to be negotiated.
Further disintegration of the Euro bloc could materialise given that the rest of Europe will have to grapple with losing its second-largest economy.
“Economic stability is good for tourism,” said Tourism Vancouver CEO Ty Speer, who formerly held jobs in both London, England and Glasgow, Scotland.
“Instability is never desirable for any economy, and any time when the economy is in a state of flux, people make different decisions about discretionary spending. Tourism is often a discretionary spend.”