Cost of overseas currency rises by a quarter
UK holidaymakers will take £836 million more on holiday this summer in light of the fall in sterling, according to Sainsbury’s Bank Travel Money.
Each traveller will take an additional £34 compared to this time last year as the pound is currently worth 3% less against the euro and 1% less against the US dollar than a year ago.
In the first five months of the year, the sum of the top-five foreign currencies bought from Sainsbury’s Bank Travel Money was 26% higher than the same period in 2016.
To combat the fall in sterling and to make money go further, 9% of people have chosen to go all-inclusive holidays, while 6% have booked self-catering to save some cash.
Almost one in 20 say they will go on fewer excursions whilst on holiday abroad, and 3% have decided to holiday in the UK this summer.
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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