Holidays 16 per cent more expensive since Brexit but Brits still have the travel bug

Holidays cost more now

Despite a weaker pound making foreign holidays more expensive this year, Brits are not cutting back on their travels, according to new research out today by specialist travel money provider, Caxton FX.

The pound has fallen 16 per cent against the currencies used in the top ten holiday destinations in the last two years, potentially making the cost £200 more expensive for Brits. For those travelling to America, the pound has fallen 18 per cent against the US dollar, making the cost of holidaying in the States even more expensive for Brits. However, this is not enough to put off the majority (72 per cent) as they say planning a holiday gives them something to look forward to.

In light of recent political unrest, this has become even more important for some with three in ten (28 per cent) saying that the world is so uncertain right now that planning a holiday takes their mind off things and a further 28% per cent want to see Europe now in case it’s more difficult after Brexit.

Brits can spend days planning their next break and researching potential destinations.  This is partly being driven by the demise of the travel agent and growing confidence about booking holidays independently.

Whereas traditional package holidays will have been thoroughly researched by the tour operator, for those booking everything directly, they need to do their own research remotely.

The average holidaymaker now spends just over 11 hours thinking, planning and researching each holiday and one in six (16 per cent) spends over 30 hours.

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