Brexit and Vassaliki

How will Brexit effect Vassaliki?

This is a big question that we get asked on a daily basis both by our guests but also by our suppliers on the island who rely on our business and money. BREXIT-logo-3

Samantha and I keep a close eye on the news online and on TV but many of our questions seem to remain unanswered.

One thing we know is that the vote to leave the EU has already caused the pound to drop sharply in the wake of the June 23 vote, especially against the Euro. It has recovered slightly, but it is still lower than €1.30 on the day before the referendum. This means your holiday is going to be more expensive this summer both when purchasing your accommodation and when you purchase food, drinks and excursions while on holiday. We will have to wait to see how this changes as we go through the long process of Brexit.

The other big cost on you holiday is your flight. The huge success of the no-frills airlines and opening up new routes was enabled by the EU’s removal of the old bi-lateral restrictions on air service agreements and the introduction of more open competition on routes between Union countries. Now that Britain is leaving the EU, arrangements will have to be made for new air service agreements if British airlines like easyJet, are to continue to operate freely across the EU.

Whether the wide choice of routes and low fares we now enjoy will continue, will depend on the results of those negotiations. Lets hope they can continue to offer us the affordable prices we have been receiving over the last few years.

It seems certain that once we have completed the leaving arrangements, British citizens will not need visas to travel into the EU on holiday, though we will, like now, have to pass through passport control when we first enter. And we will no doubt be consigned to the queue for non-EU citizens – so we may have a longer wait at the airport.

For all the team at Vassaliki our ability to work in Greece without a work permit may come to an end, we may face restrictions, or at least more bureaucratic obstacles when we want to work in Greece. But all this depends on each of the EU members individual agreements to be made with the UK.

We must not forget over 56% of UK tourists travel to an EU country, spending approximately 20 billion pounds a year. This is money no country is going to want to miss out on. With 1.7 million Brits visiting Greece each year I feel confident that both the UK and Greek governments will negotiate a fair and workable agreement that will allow us all to continue to enjoy the Greek sun for our holidays.

(Numbers and information from The Telegraph)