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Survey reveals Brexit impact on destinations of choice

October 17, 2016 Destination Europe No Comments Print Print Email Email

In the post-Brexit travel report from WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, Spain has been revealed as the most popular holiday destination amongst British holidaymaker’s post-Brexit, whilst Greece is the word with 40% saying they will travel to the destination over the next 12 months.http://industryclub.com.au/

Spain reigns once again with almost half of those surveyed (47%) saying they would book their holiday to Spain and its islands over the next 12 months.

However, the report (Post-Brexit: Confidence Remains the Key to Success in The Travel Industry) which included a survey of 1,000 British holidaymakers also found a huge boost in interest of Greek holidays after Brexit, which shows 40% will enjoy a holiday in Greece and its islands compared to just 17% before Brexit.

The report also reveals several other European destinations which will see more visitors post-Brexit such as Portugal. In May, just 8% of those surveyed said they would visit the country, however in the latest post-Brexit research, that figure has risen to 11.2%.

Top 10 destinations consumers intend to visit over the next 12 months (% of total respondents)

1. Spain: 47%

2. Greece: 40%

3. The US: 19%

4. France: 15.9%

5. Italy: 15.8%

6. Portugal: 11.2%

7. Caribbean: 10.5%

8. Australia: 9%

9. Cyprus: 6.9%

10. Croatia: 6.6%

Confidence is growing

In the latest survey, security is still the biggest concern amongst British travellers, however confidence appears to be growing with the number of consumers stating security worries as the biggest influencing factor dropping to less than one in three (30%). In May, when asked the same question, 42% stated security concerns as the biggest influencer.

Those influenced by their personal economic situation and job security concerns also dropped to 29.7% (from 33% in May).

However, the number of consumers whose travel plans had been influenced by exchange rates and the strength of the Pound rose to 21% after Brexit, compared to less than one in 10 (9%) in May.

Ian Johnson, Commercial Director Europe, Virtual Payments, at WEX said:

“Spain is the most popular choice with almost half of Brits heading to the destination; however, consumers are gaining confidence in Greece as a holiday destination and post-Brexit, it appears to be the biggest winner.”

Johnson continued by saying, “This growing confidence is also seen in terms of security concerns, and over the past few months, people’s attitude to foreign travel is changing and our survey suggests this trend will continue.”

A full copy of the WEX Whitepaper “Post-Brexit: Confidence Remains the Key to Success in The Travel Industry” is availablehere.

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