How will Business Travel Change with Brexit?
Travel restrictions are easing up in Europe, and companies are starting to travel again. However, many people wonder how Britain leaving the EU this past December might affect their corporate travel plans.
Continue reading to get your company ready for post-Brexit business travel.
Business Travel Visa
The UK grants visa-free travel to citizens of 56 countries, which means Brexit won’t affect these 56 countries’ short-term business travel visas. But those planning long-term business travel will require a visa. Employers looking to expatriate their employees from Europe will need to sponsor their employees’ visas.
The ETIAS pass (European Travel Information and Authorization System)
The ETIAS pass is a 7 Euro security check for travelers entering the Schengen area. Starting in 2022, countries, not in the EU but that can enter the Schengen area without a visa for 90 days or less, will need to obtain a European Travel Information and Authorization System (ETIAS) pass. In other words, after Brexit, traveling to the UK will require the ETIAS pass for entry.
A New Financial Capital
One of the biggest questions for Brexit is where the next financial capital of the EU will be, if not London. The top three cities in consideration are Frankfurt, Paris, or Amsterdam; the most likely being Amsterdam. A Bloomberg article suggests this might be because the Netherlands has a history of Anglo-Dutch businesses and is a hub for high-frequency trading. Also, the Dutch Ministry of Interior Affairs recently announced English as their second official language of the Netherlands.
Air travel fare was predicted to rise in the absence of the UK’s previous “open skies policy.” Before Brexit, an EU airline could travel anywhere within Europe, keeping operating costs low and the number of flights high for passengers. In November 2020, the UK and the US signed a new deal to continue existing operations like the EU-US open skies deal in hopes of keeping the E.U.’s tourism-dependent economies unaffected.
Increase in Hotel Rates
Brexit has caused significant shortages to the British hotel industry. EU workers can no longer work in the UK without a visa, which has reduced the workforce headcount in the first quarter of 2021 by 28% (compared to April 2020). Moreover, some hospitality workers have changed industries during the pandemic, causing increased hotel prices as hoteliers will need to spend more on hiring and training new employees.
Is your company looking to travel to London soon? Consider Vacayz! Vacayz is the only company to ensure you stay within the corporate travel budget. Corporate travelers will greatly benefit from flexible policies, easy cancellations, and generous discounts at exclusive hotels. You may find these discounts useful with rising hotel prices in the UK post-Brexit.