During my holiday trip in Taiwan, I read about the news that British is departing the EU (European Union).
I believe many readers should have known that on Friday, 24th June 2016, Briton votes have concluded Britain shall leave the EU (European Union). Prime minister, David Cameron resigns as results are final.
Impact on Tourism
As a result of weaker sterling pound, we may expect less tourist from the UK. Based on March 2016 statistics, UK contributes around 3.9% of international tourist arrivals. As a result of lesser tourists, stocks in my portfolio that has dependency on tourism that may be impact are OUE Hospitality Trust, Far East Hospitality Trust, Suntec REIT, Mapletree Commercial Trust and The Hour Glass.
Weaker Sterling Pound
The value of the pound sterling has fell against the US dollar and you may have read about news many flock to money exchanges to buy the sterling ......