Brits change holiday plans amid fall in sterling
The weak pound has forced 41% of Brits to change their holiday plans this summer, according to research by Columbus Direct.
The travel insurance company says 16% of respondents will take a staycation.
Columbus Direct has analysed current rates and says holidaymakers could be up to £111 less well off for every £500 they exchange compared to last year.
Sterling dropped by nearly 20% against the dollar following the Brexit vote in June and, remains 16% lower than it was before the referendum.
Columbus Direct says holidaymakers will get £70 less when they buy £500 worth of US dollars compared to a year ago; those travelling to Europe will get £65 less for every £500 they exchange, while families skiing in the Swiss Alps this half term will get £88 less per £500 exchanged.
Holidaymakers heading Down Under will get £111.27 less in Australian dollars. However, travellers heading to Japan, Mexico or Malaysia will see their £500 go further than it would have last summer.
Columbus Director head of brand Rob Thomas 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."
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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