In: Economics
From the perspective of People flows to analyze the impact of the Brexit. People flows includes Migrants, Tourists , International Students. Give data to support.
Brexit is exit of Britain from European Union.
In 2016 Britain chooses to make an exit from the regional integration knwon as EU. This decision was made by a referndeum. This decision has impacted the country and other relevant countries as well and will continue to have influence until Britain gets completely out from the block.
If we talk about the people flow, which implies movement of people in terms of migration, brain drain, tourism, for studies, then obviously it has also been infuenced greatly.
When Bristish was part of EU there was free movement ofgoods, services, capital and labour.
In such free movement there was free movement for poeple as well. Being part of the block, formed by number of countries, tourists coming to one country had not to pay explicitly to visist British but now they have too increasing their cost of tourism. Hence it has impacted the toursim of British.
For educatioon purposes it was easier and less csotlier for foreign students, from the same block of different country, to go and get education in Britain.This has hindered the education sector of the place and also the collective education facilities for the group. However the policies announced by UK such as in october it announced that various scholarships and aids that were available for EU students will remain intact, will not distrct the international students.
Migrants now no longer can easily go to Britain from other different country but from same block to earn money. Net migration of UK is falling and has fallen to 248,000. PwC has predicted that there could be 50% reduction in migration to UK.