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Bolt to launch fifteen restaurants in UK

Bolt to launch fifteen restaurants in UK

Usain Bolt is set to open 15 restaurants in the UK serving classic Jamaican dishes and “burgers à la Usain”.

Adam Stewart Receives Jamaican National …

Adam Stewart Receives Jamaican National Award for Contribution to Tourism

Adam Stewart (right) Deputy Chairman and Chief Executive Officer of Sandals Resorts International receives the Order of Distinction (Commander class), for his outstanding service to tourism and the hotel sector...

Quality Service and Premium Canine Secur…

Quality Service and Premium Canine Security

All is not lost in security techniques in Barbados; in fact all should be well if you get to know the people associated with Premium Kennels located at Worthing View,...

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Soca Music's Jade Lopez Resurfaces with …

Soca Music's Jade Lopez Resurfaces with Major Motivational Triumph

Persistence is a hell of a thing. One entertainer’s undying passion and his heritage have fueled what will likely be a long and prosperous career in music. Trinidad and Tobago’s Jade...

Ricky T and Jah Cure team up for “Freaky…

Ricky T and Jah Cure team up for “Freaky Girls” remix

It has been more than a year now that “Freaky Girls” from Saint Lucia’s Ricky T has dominated fetes, events and airwaves in all corners of the globe including the...

Nassy represents for Tobago Tourism with…

Nassy represents for Tobago Tourism with latest track

The brand new musical offering by budding artiste Nassy entitled “D Tourist” has become the latest viral sensation to come out of the twin island republic of Trinidad & Tobago....

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Saturday, 25 June 2016 09:57

STATEMENT FOLLOWING THE UK REFERNDUM VOTE IN FAVOUR OF LEAVING THE EUROPEAN UNION - BREXIT Featured

The Barbados Hotel and Tourism Association (BHTA) has advised members not to panic but calmly try to assess the likely impact of the UK’s vote to exit the European Union.

The Association has been cautiously monitoring the lead-up to the Brexit vote but the initial shockwave after a decisive win by the ‘leave’ campaign is extremely disturbing as it has resulted in plunging currency value and stock market prices. Weak currency and reduced spending power coupled with the uncertainty further fuelled by the Prime Minister’s resignation, are concerning.

Immediately, members of the BHTA have been asked to feedback any negative impacts of this volatile situation and the uncertainty that it brings, but cautioned not to make decisions only based on these early signs. The United Kingdom is the source of the highest level of tourism expenditure and arrival numbers and, therefore, the impact could potentially be damaging in the short and medium term. We will monitor closely the possible slowing of the pace of bookings and, at worst, cancelled trips, to feedback to our partners, the Barbados Tourism Marketing Inc.

We caution members that it is still very early and that where strategies to address reduced spend are necessary to have in their arsenal, we must cautiously observe and plan to avoid any knee jerk reactions. Any partners, investors or potential investors should be similarly cautioned. The process for the transition to commence involves an application for exit from the EU and, therefore, we must not hasten the possible fallout by making rash decisions.

The board and members of the BHTA are already in dialogue about possible impacts and required action as we watch the unfolding saga. It is indeed the greatest shock to the United Kingdom market in recent history and we have to be well prepared for what it may bring.

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