Brexit Is here!
Now, It’s a known fact that the United Kingdom (UK) has voted out of the EU & it’s being termed as ‘Brexit!
However, the consequences it is going to have on markets in UK & beyond is what that matters the most!
In the context of the similar situation, let’s quickly dish out some major consequences of ‘Brexit’ that is set to hit the UK markets gradually!
BREXIT’s Consequences On UK Markets
Telecoms – ‘Roam Like At Home’ May Disappear
Mobile phone users may have to shell out more for making calls on the continent other than their European nations as breaking up from EU may mean new rules cropping up to wipe out roaming costs, may no longer be applicable to UK customers.
However, the exact consequence of this will not be known until the Britain’s exit terms from the EU are worked out!
Petrol: Expect To Shell Out More At Pumps
UK motorists may have a harrowing time at the petrol pumps as fuel costs may surge in the wake of the Brexit vote. This may occur if the economic lookout concerns lead to sterling falling much faster than the price of the fuel.
The final outcome is expected in ensuing weeks!
Retail: Weaker Pound May Force Stores To Raise Prices
The plunging value of the pound is set to affect costs over the high street, as organizations importing goods from abroad shift higher prices to consumers.
However, experts are of the opinion that this is unlikely to happen in the near future. This is because most of the retailers keep in place ‘hedges’ for many months worth of foreign exchange requirements.
Travel: Holiday Braced Groups Booking Would Go Down
It’s simple since the pound is set to have a low value, spending money out of the country & even within will poke a hole in the pockets of the UK citizens.
For an example, on 20th June 2016, 300 pounds would have provided you $450 but as things stand today, it will fetch you only $395!
What’s more, all those luring promotional/discounted air fares are also expected to disappear soon as well!
More practical consequences of Brexit will be out in the coming days & these aforementioned ones are the direct impact of what pull out of EU may do to the Great Britain!
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