A no-deal Brexit could lead to more than 700,000 jobs in the travel and tourism sector being lost over the next decade, a trade body has warned.
The figures are based on an International Monetary Fund (IMF) analysis which forecasts there would be a 7.7 per cent decline in economic activity if the UK crashed out of the trade bloc with no deal.
Gloria Guevara, the president and chief executive of the WTTC, whose members include chief executives from around the world, said the total cost across Europe could be more than £40bn.
"Given its importance to the UK economy it is now clear that a no-deal Brexit would have a dramatic impact on one the UK's most important economic sectors,” Ms Guevara said.
"If the IMF prediction on the wider economy is realised, there would be a total cost across Europe of over £40 billion and over 700,000 jobs, in our projections.
"Our members are already seeing an impact on their businesses and workforce."
The comments come as the home secretary, Sajid Javid, failed to reject claims that a no-deal Brexit will make the country less safe, as he admitted there would be a change in the UK’s security capabilities while appearing on the BBC's Andrew Marr Show.
The cabinet minister’s remarks followed the head of the criminal records office, Rob Price, who told The Independent that dangerous criminals could go free in Britain after it leaves the EU if police officers are unable to access European conviction records.
Asked whether the country would be “less safe”, Mr Javid noted that most of the mechanisms applied to the UK from 2015, but continued: “I’m absolutely certain as home secretary, this is my most important job, is to do everything I can to keep this country safe.
“I’m absolutely confident that we will continue to be one of the safest countries in the world, even in a no-deal scenario.”
Additional reporting from agencies
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