Uncertainty in tourism sector among BREXIT affected countries
Concern in key tourism industries is mounting following the triggering of Article 50 at the end of March, Theresa May's calls for a snap general election in June and rumours of frosty discussions between the British PM and European leaders in recent weeks. All of these factors point increasingly to a hard Brexit, a worrying consequence of the referendum that could see airlines with their headquarters and majority of their employee base in the UK forced to relocated to the EU once Britain leaves the union. CEOs of EasyJet and IAG, the firm which owns British Airways, are confident that while there will almost certainly be more red tape for airlines operating out of the UK, that not much will change in terms of their business or their customer appeal. Ryanair CEO, however, feels differently, saying that "I think there's going to be less flights, there will be less growth in the UK in the next number of years and that inevitably means higher prices for UK consumers and visitors." A bleak outlook indeed.
Airlines' stocks have been affected by the news too, with share prices plummeting after the Brexit news because investors feared the shrinking of the market in a post-EU Britain. The markets recovered though, but it is sure to be an unsetting sign of things to come. Low cost carriers have the most at stake, as many are UK based but operate principally on mainland Europe, so any regulatory or trade change will no doubt have an effect on their business.
Then there is the question of Northern Ireland, which will be the only region to share a land border with the UK once Brexit is enacted. Northern Irish tourism has seen growth in recent years with Game of Thrones' tours and the Titanic Belfast Visitor Centre, but the area is in constant competition with its southern neighbour, the Republic of Ireland, whose taxes on the tourism industry are less than half that of Northern Ireland. There has been talk of slashing the 20% tax imposed on business in Northern Ireland and the UK following Brexit to make it more appealing to investors and tourists alike, but it remains to be seen how this will pan out in practice.
Let´s take a look at a few Hotel Projects currently under construction in Northern Ireland:
TITANIC-THEMED HOTEL BELFAST
The transformation of the legendary Harland & Wolff building into the world's most authentic Titanic-themed hotel is nearing completion. The spectacular twin Drawing Offices will soon be open to the public this summer.
St Andrew Square Hotel, Belfast
e ground floor includes staff areas (changing rooms, showers, offices, kitchen area, storage and plant areas) and the main hotel entrance, coffee area and toilets with access to the upper floors. The first floor provides a bar, dining and lounge areas and the second floor provides a fitness area and bedrooms. From second floor level upwards the building steps in at the rear and provides the remaining bedroom accommodation.
AC by Marriott Belfast Quays, Belfast
AC Hotel by Marriott Belfast will be Belfast's newest Waterfront Hotel. The 4 star development will feature a reception area, signature restaurant, bar/ lounge, fitness facilities and meeting rooms.
More information on Hotel Constructions in Northern Ireland can be found on TOPHOTELPROJECTS, the specialized service provider in the exchange of cutting-edge information of hotel construction in the international hospitality industry.
Jule Grass
Marketing Manager
+49 4261 4140 309
TOPHOTELPROJECTS
