3 comments so far.Possible challenge to Malta’s tourism as result of the Brexit – MHRA
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The Malta Hotels and Restaurants Association (MHRA) has said that it is currently discussing the result of the Brexit Referendum with the Ministry of Tourism, with a view to address possible reactions to the results that may impact the Maltese tourism sector.
"Tourism from the UK represents 30% of the total number of visitors to Malta, contributing just under half a billion euro in 2015 to our economy," it said.
MHRA President Tony Zahra states that, "the Brexit results represent an important development in world politics and economics which will have an impact on Malta, including the tourism sector. From a basic economic perspective a weaker sterling will get less euro for its pounds, so it will be more expensive for the British traveller to holiday outside UK."
"But it's more complicated than that, especially in terms of British holidaymakers' behaviour. Past experience has demonstrated that demand for overseas travel by the British traveller is price sensitive. However there are other issues which need to be considered such as the impact on the freedom of the skies and its effect on airlines including Air Malta, travel insurance policies, and the general impact that may result as a result of instability."
Towards this end MHRA will be organising a seminar in the coming week addressing these matters and accordingly what needs to be done to ride the wave. This initiative is being supported by the Ministry of Tourism.
Either way Malta’s tourist industry is going to suffer very badly, hotels restaurants etc etc its on the cards
well people know that no matter what if you like the place you will pay the extra to go there weak pound or not what is essential is that Maltese Islands strive to give excellence in evrything thus retaining its tourism sector healthy once that goes then people may decide to change destination where they will get what they expected for their extra pounds our islands will always remain favourite to Britian we share more thanjust currency..good luck to us all Gina
My family are returning in August,we are obviously concerned at the prospect of a weak pound,more worrying for us,is that we plan to move to Gozo and hope that this plan will not be affected to adversely.Let us all pray that the UK and the EU can deal with this potential catastrophe for us all, Jo