With the EU referendum drawing near, the prospect of Brexit is proving an area of concern for the business community, according to the Dynamic Currency Conversion (DCC) Forum.
The research found that gaining entry into countries is the biggest worry for business travellers, with almost a quarter (24%) saying they were most concerned about having to apply for visas to enter countries before their trips.
Almost one in five business owners fear possible delays at passport control and 21% are concerned about increased airfares, which could see them reduce the frequency of trips in an effort to cut costs.
Nearly a third (30%) of those surveyed said they felt uncertain about the prospect of Britain withdrawing from the European Union. Business travellers in Wales are the most concerned (23%), while those in the North East worry the least (6%). Respondents in London fell somewhere in between, with 16% stating that the prospect of Brexit worried them.
Despite their concerns, most (67%) said that they were definitely expecting to travel abroad and do more business globally next year.
Jennifer Conneely, board member of the DCC Forum, said: “The business community is naturally watching the upcoming EU referendum very closely. Travelling abroad for business has become a regular occurrence for many, so understandably there are questions being raised on how this might change, and what impact it will have on businesses and the broader economy. For now, it’s reassuring to see that many business owners still have their sights set on doing more business globally over the next 12 months, despite the concerns and uncertainty surrounding Britain’s future within the EU.”
