Football blunders and Brexit trigger scramble for last minute holidays
Since these events started to unfold following the referendum result, the pound has dropped significantly, as other countries remain reluctant to put their faith back into British currency. According to reports, last week the pound plunged to $1.3052, which was down by 12% since the Brexit vote. This marked a 31-year low, while sterling also fell to its weakest level against the euro since 2013, at €1.1787.
In real terms, a family that spent only £1,000 holidaying in Europe last season will need another £138 with them this year, while anyone thinking of holidaying in the US will need £146 more.
For the British tourism trade this is great news, as more Americans can head over here to make the most of the weakened pound. For any UK residents wanting some sun this summer though, it’s just become a whole lot more expensive, as there doesn’t seem to be any sign of major recovery in the market and holidays could rise even higher in price.
Plus, people are starting to realise the knock-on effects that a weakened pound against the dollar can have. Many countries, such as those in the Caribbean for example, have currencies which are pegged to the US dollar, or which use it as a parallel currency. When booking hotels, cruises, exotic safari tours and many other travel services, you’ll find that a lot of them are priced in US dollars. Of course, so are the other travel necessities like oil, which impacts on everything from air and ferry fares to simple petrol prices.
Luckily though, it means that there are more bargains than ever before to be had in the “staycation” holiday resorts. In other words, many Britons are choosing to travel within the UK for their break, so if you’ve always wanted a weekend away in the capital, then now is the time to go for it, while prices are lower and rooms are on offer.
Of course, not everyone is choosing to stay in the UK; many savvy holidaymakers are deciding to shop around for their currency, get the best rates on the market, and book a last minute deal before the market takes a down turn. A1 Travel reported that last minute holiday bookings doubled overnight due to England football team early exit from the Euros, and there are still plenty of opportunities to join them.
Nick Lima, Head of Ecommerce for A1 Travel commented: “It will be a last minute summer as many people have still not booked their family holidays. My advice would be to snap up a peak season deal now, as flight prices are going to rise sharply in the peak July/August period.”
So, what are you waiting for? Don’t be the one that misses out this summer, and check out the deals that can be had online.
Clarissa de la Rue
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