Concerns about UK exit to impact on consumer confidence | KPMG | UK

Leisure sector concerned as UK exit likely to impact on consumer confidence

Concerns about UK exit to impact on consumer confidence

Will Hawkley, UK head of leisure, KPMG UK, commented on today’s EU referendum result for the UK to leave the European Union:


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“Today’s decision to leave the EU is likely to cause CEOs within the leisure and hospitality sector a great deal of uncertainty and concern. Not only are there vast numbers of EU nationals working in the hospitality sector, but EU supplier and commercial contracts will need to be reviewed, and there will also be concerns over foreign visitor numbers within the industry. All of these factors could have a material impact on operations and revenues. 

“On an economic level however, it’s fair to predict that today’s result will probably impact consumer confidence, driving down discretionary spend on leisure in the short to medium term while consumers evaluate the full impact of what the UK’s exit from the EU means for them and their wallets.”

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