Majority of British holidaymakers ‘don’t know exchange rate’
Three out of four British holidaymakers have no idea what the exchange rate is and the majority overspend.
Research by Travel Money Club says nine out of 10 will spend more than they plan to, with 75% saying they don’t know the exchange rate of the currency they are using abroad.
One in four will run out of cash currency by day three of their holiday, while a further one in three will run out of holiday money by day seven.
One in five have unintentionally spent 50% or more on a glass of wine or pint of beer, without realising, resulting in some paying more than £20 for a single alcoholic drink.
Millennials lead the way when it comes to currency confusion, with one in three ‘forgetting’ to budget, and a third admitting that they don’t ever think about how much they spend on their travels.
Almost half (45%) say they’ve no idea how to get the best deal or if there are hidden commissions involved, and 1 in 3 don’t know if it’s better to use cash or credit cards while abroad.
Over a third of cautious Brits will be eating and drinking out less on holiday because the pound has dropped in value since the UK voted to leave the EU, while 40% will go on fewer excursions and activities abroad because of Brexit.
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.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers flexible payment options for European travellers
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Skyscanner reveals major travel trends 2026 at ITB Asia
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists