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World Travel and Tourism Council (WTTC) has announced that it will move its headquarters from London to Madrid. Brexit,
The organization represents the global private sector in the travel industry, from hotel groups and Airbnb to travel tech companies and international tour operators. It has been based in the UK since its founding in 1990. But in October President Manfredi Lefebvre said WTTC will relocate to mainland Europe To benefit from “low operating costs” European Union Single market access.”
While France, Italy and Switzerland – as well as Dubai – were considered, the 17-member steering committee unanimously approved Madrid as its new location.
Gloria Guevara, interim president and chief executive of the organisation, said: “Spain has prioritized travel and tourism and clearly understands the huge contribution this sector makes to global development.
“Being located in a competitive city like Madrid will help WTTC go from strength to strength, offer closer engagement with our members around the world and enable us to play a major role in good policy development, advising on investment that helps drive tourism growth and job creation from our members that has a global impact.”
In a statement about leaving London, the organization said: “Brexit-related challenges, such as constraints on talent mobility, make the UK less attractive as WTTC seeks to further build on its leadership position and become even more agile in the region.”
Ahead of the Brexit referendum, travel association Abta warned: “Any changes limiting the sector’s ability to recruit or employ foreign nationals, including from the EU, could challenge many travel and hospitality businesses in filling new roles.
“If the exit vote causes a sustained decline in the value of sterling, causing sterling to become more expensive in foreign exchange destinations, consumers traveling to the UK may face increased costs.”
In the wake of the vote to leave the European Union, EasyJet loses right to operate British aircraft within the EUBritain’s largest budget airline transferred 100 aircraft to Austrian subsidiary easyJet Europe,
Independent has sought comments from the government on WTTC’s move.