The people of the UK have voted to leave the European Union by a majority of 52%.
Biel Barceló, the Balearic tourism minister, yesterday said that Brexit could affect Balearic tourism.
Britain has voted to leave the European Union, forcing the resignation of Prime Minister David Cameron.
Spain will seek co-sovereignity on Gibraltar following Britain's vote to leave the European Union.
Sterling sank 10 per cent in value, triggering a rush of capital into the traditional security of the yen and the Swiss franc.
The European Union should be reformed to focus on economic growth, jobs and greater integration after Britain's vote, Rajoy said today.
"In June 2018 all of the current agreements Britain has with the EU, be it Spain, France, wherever, will become null and void."
The government stressed that there would be no immediate effect on British residents or visitors.
There is no question that a fall in the value of the pound will make holidays dearer for the British.
Occupancy is expected to be much the same as this year in 2017, but profit will be the best for the past ten years.