The Brexit referendum will take place on June 23 with opinion polls showing that the vote for remaining or leaving is “neck and neck”.

Neil Baylis, a partner at K&L Gates, said: “This is potentially very significant for the travel industry as there are some significant benefits from the membership of the EU, such as visa-free movement.”

He also warned that a Brexit vote could also cause a drop in the value of the pound against the dollar and euro “certainly in the short term”.

Baylis said there would be “no immediate regulatory change” if the UK votes to leave and key EU legislation such as the Package Travel Regulations and Consumer Rights Act would still apply.

He predicted that the specified two-year period for negotiating an exit from the EU could be extended significantly.

“Greenland took 5 years and it could take us up to 10 years - that’s a conservative estimate,” added Baylis.

“There will be a great deal of long-term uncertainty but there will be no rush to repeal any EU laws as this is more a question of sovereignty. In my opinion, it will be detrimental to the travel industry, which is not desirable.”