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Brexit: millions of Britons plan 'staycations' this summer
Posted on 16/02/2017

EconomyUnited Kingdom

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The post-Brexit fall in the pound has caused up to eight million Britons to change their travel plans this summer.

Vacation or staycation?

Vacation or staycation?
© Jaromír Chalabala/123RF

Due to the continuously dwindling value of the pound, millions of British holiday-makers are being forced to change their travel plans this summer to save money, instead of spending it abroad.

Over eight million Britons are abandoning plans for foreign travel and embarking on "staycations" instead, planning holidays within the UK this summer.

In a recent survey of British travelers, over 40% said that the low value of the pound has had an effect on their holiday plans. Furthermore, 16% claim that they have already decided they will be embarking on a "staycation" this year.

Over half of the young people who took part in the survey admitted they have had to tighten their holiday budgets considerably since Brexit, whilst 11% said that they would set a holiday budget in advance, and 8% would reduce the number of holidays they take altogether.

Less for your money abroad

Less for your money abroad
© Andrew Barker/123RF

Holiday-makers who do go ahead with travel plans will notice a significant different in what they get for their money abroad this year. The pound is particularly weak against the Australian dollar, with £500 being worth A$830 in comparison to A$1,014 a year ago.

Rob Thomas, Head of Brand at Columbus Direct, said: "We have enjoyed a strong currency for many years so the reduced strength of the pound is going to be noticeable for holidaymakers when it doesn't go as far as it used to.

"Anyone heading to Europe, the US, and Australia especially will feel the pinch of less favourable exchange rates."

Other main countries that will be significantly less economical for holiday-makers this year are Norway and America. British travellers may wish to look into holidays to Japan, Mexico and Malaysia, where the pound is up against local currencies.

With millions planning a "staycation" this year, the UK's economy could feel a welcome boost, especially in destinations such as Cornwall, the Lake District, Norfolk, London and Brighton. Those who do intend to travel to Europe, especially in cities, should seek out the best value visitor discounts for transport, hotels, museums and sites.

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