The world was shocked by Britain leaving the European union, the pound didn’t know what to do and plummeted to an all time low for all the wrong anticipatory reasons. The stock exchange suffered and Britain was not only divided from Europe, but also from Scotland in its opinion and the country as a whole was cut in half in opposition to one another in its Brexit vote.
To stay or not to stay. Why the question?
Brexit, short for Britain Exit from the European Union, is a decision stemming from Britain’s opposition to free immigration and unwillingness to support weaker European economies. The dissatisfied middle class did not want European immigrants taking away their jobs and refused to support economies bringing them down.
The exit would result in a restricted trade, more stringent policies and a wary neighbour not opening its doors to Europeans as easily. The pound falling so hard was because trade centres would get shifted from the UK to other European countries to have easier accessibility to the rest of Europe.
These are all facets from the big scheme of things which runs nations and world trade.
So how does it affect the Indian studying in the UK and the traveller wishing to travel to Europe?
There is some reason to smile here. Just last week you had to spend 100 rupees for 1 pound. A slash by 10% in the value of the pound makes the current rate as 90 rupees for a pound.
If your child studies in the UK, now is a great time to transfer funds for education and living expenses as the pound rate is the most favourable for Indians it has been in the last decade. A college student in the UK does find himself juggling studies and a part-time job. More job opportunities for the students as immigrants move over.
As the UK is separated from Europe by the English Channel, accessibility was a setback in your tour through Europe. Most travellers gave it a miss. The other reason why travellers skipped London was the prohibitively high cost of travel, daily expenses and accommodation there.
But as the mighty pound fell last week, travellers can grab the opportunity on that trip to the UK. The summers are making the UK all the more welcoming and the pound lures you. June- July is the best time to be visiting the UK as the weather is getting sunnier.
The cup is indeed half full, so let’s make a toast to your London trip!