The Caribbean Tourism Organization and the Caribbean Hotel and Tourism Association have issued a statement on the British vote to exit the European Union.

The organizations, representing the region’s public and private sector tourism interests, “recognize and respect the will of the majority of the voters as reflected in the outcome of the British EU referendum.”

“The extent to which the decision by U.K. voters to opt out of the European Union will affect travel to and from our region remains to be seen,” the two organizations said.

“The severity and longevity of exchange rate fluctuations is an immediate concern. Caribbean tourism industry stakeholders should monitor this, given its potential impact on travel planning and travel package agreements,” they said.

The statement acknowledged that concerns have been raised regarding the impact on travel visas affecting U.K.-E.U. travel to and from the Caribbean, and that a resolution on this matter will take some time to address.

Noting the potential for future impact on travel planning and travel package agreements, the CTO and CHTA announced plans to hold a detailed webinar briefing for their respective members titled “Brexit and Caribbean Tourism: Possible Implications,” on Thursday, July 7.