Overview

• The agreement opens Gibraltar’s land boundary with Spain to frictionless travel under Schengen-area rules
• Air passengers arriving from the UK will face two passport checks—first by Gibraltarian officials and then by Spanish authorities acting for the EU
• Both the UK government and Gibraltar’s leadership stress that the new procedures leave the territory’s British Overseas status intact
• Airlines are reportedly evaluating new routes from outside the UK to capitalise on expected tourism growth
• Average house prices in Gibraltar have climbed to £491,867 amid rising demand from residents and investors