Merlin boss says EU exit vote will help UK tourism

Nick Varney, Merlin Entertainments CEO

Merlin Entertainments chief executive Nick Varney has said that the United Kingdom’s vote to leave the European Union could help the British tourism industry.

Pound sterling’s value fell against the US dollar in the aftermath of the leave result, to levels not seen since 1985.

It has also significantly weakened against most international currencies, including the euro.

Varney told the Financial Times: “Holidays in Europe will be a little more expensive and encourage Brits to take more holidays in their home country.

“We’ll get more eurozone visitors coming in as it will be relatively cheaper than to holiday in the UK.

“My view is that this scenario will endure and the pound will settle at a more competitive rate.”

51.9% of the British public voted to leave the European Union in an advisory referendum held on 23 June, although the decision has not yet been acted on by the UK government.