All Things Travel: Boston Reacts To Brexit Vote
BOSTON (CBS) – Brexit, now fix it.
That was the theme of two interviews Friday with CEOs in Boston who lead billion-dollar international companies. They took a wait-and-see attitude to the surprising results of the British election.
In the morning, it was a conversation with Andy Stuart, President and CEO of Norwegian Cruise Line at Black Falcon Terminal.
In the afternoon, it was a brief interview with Rob DeMartini, the president and CEO of New Balance, at the opening of their first U.S. Global Flagship retail store at their Boston Landing complex in Brighton.
Both companies have major operations in Europe--NCL has four ships sailing in Europe in the summer months, and New Balance has its European headquarters in Great Britain.
"It creates uncertainty, but we are primarily a North America brand and it should have a small impact," said Stuart. "We expect Europe to be a little weaker this summer."
"It will have an impact, but it's too early to tell," said DeMartini.
Stuart came to Boston for a noon trade reception to show-off a major upgrade to its "Dawn" vessel, which recently underwent a complete upgrade in the Bahamas. It will have weekly departures from Boston to Bermuda until October.
"It feels like a new ship," concluded Stuart. "Boston has been very good to us in recent years."
Friday's departure had 2,700 passengers on board, the large majority of who came by car to Boston for the trip.
In the afternoon, the mood was also upbeat as New Balance opened a new store at its world headquarters, where visitors can see how running shoes are made and pick out colors for their new shoes while they wait.
A Global store will open this year in San Francisco, followed by stores in Milan, Tokyo, and London.
The Brexit vote will have a major impact on travel between England and mainland Europe in the next few years.
Open Skies airline treaties will have to be renegotiated, and that may mean higher fares for low-cost carriers like Easyjet and Ryanair in the U.K.
Hotel and travel package costs may go down with a strong dollar compared to the British currency.
The most intriguing change will be the highly successful Chunnel train that links London and Paris in about two hours. This fast train has increased business in both cities.
One other Boston travel company affected by Brexit is Trip Advisor, located in Needham. That company has over 25 percent of its business in Europe.
All Things Travel Reports With Bob Weiss Can be heard on WBZ NewsRadio 1030.
