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Will the UK Hospitality Industry Benefit from Brexit?


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Without a doubt, it’s been one of the most exciting and memorable times in British politics
since June’s surprising referendum result, but what impact will this have on
hospitality businesses such as Woodhall Manor?

It’s fair to say there have been some pretty negative reactions to the referendum and Brexit, but most agree it’s time to embrace the positive scenarios that have unexpectedly appeared.

The most immediate effect has been from the currency markets. The pound currently represents great value for money for anyone travelling from abroad, so all indications point towards a fairly immediate increase in inbound tourism to the UK. Our hotels and restaurants now look much more affordable than they were a few months ago, so look likely to experience a surge in trade.

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VisitBritain, the official tourism body for Great Britain, states that visitors from European nations account for eight of the top ten visiting nationalities to the UK each year, accounting for billions of pounds worth of spending. Despite some continental visitors seeing the Brexit vote as something of a snub, there’s no denying that the UK, with its many attractions, remains a fantastic destination. As a country with a rich heritage and culture, the UK will always be appealing to tourists. So, with a trip to the UK now much more cost-effective than it was a year ago, things are already looking better.

On the flip side, a weaker pound means meetings in mainland Europe are going to be more costly, at least in the short term. For corporate clients, 2016 could be the year that they choose the UK for their international business conference. With a good road and rail connections to Heathrow Airport and the the International Rail Station, venues in Suffolk are placed well for capitalising on this unexpected turn of events.

For home-grown businesses, it’s also a good time to consider shifting any overseas travel and corporate trips back to the UK. Budgets are always closely reviewed and savings encouraged wherever possible, therefore UK businesses will stand to save money on travel as well as creating extra revenue for restaurants, hotels and local attractions.

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There’s also been increased interest from abroad in the wedding market. A wonderful Manor House is a very attractive choice for those wishing to experience an international wedding  in a stunning UK location. Couples choosing venue such as Woodhall Manor can make substantial savings this year whilst also being only an hour from London’s fantastic attractions for an exciting honeymoon to remember.

Longer term, no one really knows what the impact of Brexit will be, but for now, the hospitality industry is seizing immediate opportunities that have appeared through this unexpected turn of events.

There’s an old adage that states, ‘It’s not a problem, it’s an opportunity’. Embracing this positive attitude is what makes this country so unique.

 To arrange a viewing of our exclusive-use venue, or to find out more about hosting corporate events at Woodhall Manor, call Penny on 01394 411 288.

For more creative thoughts for your business event check out our Smart Ideas Blog



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