Career Advice - A Community Blog

Erik Larson writes about the job market, resume improvement, and career advice

Reasons Why Americans Should Care About Brexit Negotiations

Written by Erik Larson, Community Blogger | Jun 28, 2017 3:37 PM

With Brexit negotiations beginning to take place despite the current political climate in the UK of an unformed minority government, people around the world are beginning to take more notice of Britain's historic and world-changing decision. While America isn't in Europe, the closeness of the two countries' political alignment could mean that America is somewhat impacted by the outcome of these negotiations. Here, we're taking a look at why Americans should care about Brexit negotiations.

It Could Impact The American Economy

The UK is the fifth largest economy in the world, and is a serious trading partner to America, so if something begins to impact the UK's economy, the chances are it will have roll on effect on the American economy. For example, the pound dropped to a 30 year low as soon as the Brexit result came in, and by the next morning, Wall Street began to tumble by more than 500 points, showing just how much of a direct impact the Brexit decision had on America. With a huge number of companies already investing in the UK, but with the impact Brexit could have on their business turnovers, many companies may leave the UK. If this happens, Britain's economy could sincerely be affected - creating a domino effect of the US economy.

Unstable Europe

One thing that we may see when it comes to Brexit is how many other countries in Europe begin to prick up their ears at the idea of leaving the EU. Greece is one country that has been considering an exit for a number of years and with a damaged economy, Britain's brave move could see a number of other countries follow suit. This could leave a lot of problems for Americans looking to invest in these countries, or even affect travel plans. While US citizens already have to obtain some kind of visa to enter Europe, similar to how UK citizens have to obtain an ESTA Visa to enter the US, some travel restrictions could become even tighter as the countries begin to patch up their economies in the aftermath of leaving the EU.

Travel To The UK Will Be Cheaper

On the topic of travel however, while restrictions may be somewhat implemented when it comes to people travelling around Europe, one thing that Americans may be able to look forward to is cheaper travel to the UK. London was once known to be one of the most expensive cities in the world to travel to, but the Economist Intelligence Unit ranked it just 24th in the world in 2017 due to the fall of the pound. This is leaving the UK open to being a great travel opportunity for families looking for a cheaper alternative to their regular holiday plans. In addition to this, the UK will be welcoming tourists with open arms to help boost their economy, particularly as they are likely to experience a lot less tourists from the EU due to various travel restrictions that may be put in place. There might even be more opportunities for Americans to consider relocating to the country, as they will be experiencing less immigration from EU countries once the negotiations begin to come to a close.  

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