The Great Brexit: Is It Safe to Travel to Europe?

Last week I took a trip to Europe...at the onset of BREXIT. I wasn’t sure if there would be a lot of anger or fear in the places I was visiting, how conversion from dollar to Euro would fluctuate, or generally what would happen in a union that had just lost one of its principal countries. Though I did not visit Britain specifically, I can say that my travel plans were not greatly affected. In fact, the positive and negative effects of this “British Exit” will be much more long term for travelers and citizens of the EU.

Why Exit?

Brexit was won by the public with 52% for the exit and 48% against. The European Union united 28 states which would trade amongst each other and urge them not to go to war with other countries of the same monetary system. There are many reasons for Britain to want to leave the European Union and many of them have to do with money. Britain wants to be able to make its own decisions on immigration and where its money goes. The EU has an overarching set of laws that trump the laws of individual states. Britain would like to keep the money it sends to the EU, make its own regulations for its people, and since it is a strong economy in Britain, they want to make their own currency decisions.

Short Term Financial Effects

When I arrived in Germany last week, the US Dollar was $1.11 to 1 Euro. Today, the Euro is $0.90 to 1 US dollar. The British pound is at a 31-year low with 77 cents to the American dollar. Though fluctuation was nerve-wracking while I was in Europe, there is still more time to go. Britain’s economists understand the effects to the country upon leaving, and the near 50/50 divide in the country’s voting that has already sparked some violent acts on parliament members like Jo Cox. It is expected that financial difficulty will be short term.

And the Moral of the Story Is…

Don’t be afraid to travel to Europe in the coming months. In fact, take advantage of the Lakes Region Chamber's trip to Spain this fall! Even with the decline, the EU Cup quarter-finals still went on with people waving their nation’s flags through the streets of Munich. Biergartens were full of happy residents, gelato stands were full of hustle and bustle in Salzburg, and my Airbnb host in Slovenia was still joyfully happy to talk about his beautiful home with American tourists.