Brexit Update
Michelle attended a destination showcase last week, where a guest speaker spoke about the ever changing landscape of Brexit.
Mr Johnson has said the UK must leave on 31 October, even if that is without a deal so what could that mean currently for the UK and the meetings and events industry?
UK Citizens travelling to the EU will need to ensure passports are valid for at least six months on the 31st October and will require an international driving permit if intending to use a car. You won’t need a visa for stays of up to 90 days of any 180 day period in the EU, however should new visa rules be confirmed you should check on each country’s advice page prior to travel.
European Health Insurance Cards (EHIC) will no longer be valid. Pet passports will also no longer be valid.
GDPR – There is not likely to be any change to GDPR guidelines as result of Brexit as this was not EU lead.
What you find in the supermarket could well be affected. According to the BBC, almost 30% of our food currently comes from the EU, and it is likely that some foods, such as fresh vegetables and fruit, will become more scarce and more expensive in the event of no deal. Bank of England governor Mark Carney has said that, in a worst-case scenario, our shopping bills could increase by 10% which will of course inevitably impact hotel and venue costs.
The British Pound has been weakening against the US Dollar for several months. For the UK events industry this could make the UK much cheaper than many other European countries for both leisure and business.
The European Union purchase tax on groups travelling within the EU, known as TOMS, currently adds about 5% to the cost of every group. But when the UK leaves the EU, there is a very strong argument to say that this tax no longer applies as the UK would be like every other jurisdiction which sits outside the EU…no purchase tax is payable. The implication is that taking groups to the EU will then be less expensive by 5% than they were before Brexit. There are currently discussions going on with UK event associations to abandon TOMS after Brexit, as there will no longer be binding legislation to collect it.
Only time will tell what the outcomes are but as Brexit nears we are holding tight and keeping up to date of this new world ahead of us.