Post-Brexit and The Incoming Trump Administration.
It felt like yesterday when the United Kingdom voted out of the European Union (EU). On June 2016, residents of the United Kingdom were asked to vote on a simple question: Should United Kingdom remain as a member of the EU or leave the EU? This resulted in at least 52 percent voted to leave, thus ending a 43-year membership.
During the Brexit trial, the world began to speculate and analyse the repercussions it would have on the world, on the rest of the EU, and the United Kingdom. When the call for the Brexit happened,the value of the British pound fell by 10 percent overnight, racial and religious abuse offences rose by 57 percent, flight bookings to the U.K rose by 71 percent, and brands expressed their worry on the severe burden that trade tariffs might cause on their ability to export. Fear of recession among investors of beauty brands was running high as the future of pounds were looking hazy.
However, there was a silver lining amidst the chaos; the beauty industry was booming. The research found an increased number of British going to spas for massages, scrubs, wraps, steams, and facials.
This story is from the January - February 2017 edition of Beauty Cosmedica Singapore.
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This story is from the January - February 2017 edition of Beauty Cosmedica Singapore.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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