The government in the United Kingdom have been in a sorry state of affairs for a while now and things do not look like they are improving. With new Prime Minister, Rishi Sunak, sworn in earlier this week he is the last Conservative leader to try and steady the ship so to speak.
However, the economy in the UK is at a shocking low and things do not look like they are going to improve anytime soon. The economy has seen a massive hit since the ordeal surrounding Brexit, the handling of the COVID pandemic and the mini-budget under the shortest Prime Minister in history Lizz Truss. The UK are certainly not free and nor are they prospering amidst unrest in Ukraine and the rise of living costs across the entire country.
So what does this have to do with Poland and will Poland see any effects from the circus that is the UK government at the moment?
Poland and the UK’s relationship
The relationship between Poland and the UK has always been a harmonious one with the two countries supporting each other ever since WWII. This relationship does not look like it is going to be affected economically and they will continue to support one another.
However, it can actually go further back than WWII and in fact date back to the medieval times when Poland was one of the biggest powers in Europe were linked together through diplomacy and trade; they were not looking at the amazing tradingforexsites.com back then!
That trade makes the UK the third most important to Poland.
How does the Pound look next to the Zloty?
The Pound has greatly dropped in value across other currencies; especially the dollar. However, against the zloty, it has generally kept the same despite some erratic ups and downs but that seems to be the state of economics at the moment.
Against 1 pound, the zloty has been between 5.3 and 5.55 over the month of October and considering the value issues against the dollar and the euro, the pound will certainly go further in Poland or with online purchases from Poland.
Could this affect tourism?
It certainly could do! Poland is already a popular destination for British people who enjoy visiting the capital Warsaw but also the beautiful city of Krakow. With many tourist destinations in both places and Christmas Markets arriving to the cities soon, Brits may look away from traditional countries with the euro for example Austria, Germany and Latvia as their place to visit. Instead, they will favour travel to Poland to see some of the most beautiful Christmas Markets in Europe.
Would it be affected if you visited the United Kingdom?
The issue surrounding the UK is certainly the cost of living. Although you might not be directly affected by the prices of fuel or groceries or electricity. You would certainly feel the effects of being in the country at the moment with businesses feeling the pinch with many having to close their doors as they just cannot keep their business afloat.
Prices have increased for nearly every activity in the UK and you will have to budget more than usual if you were to visit the country.