Published on Friday, February 17, 2017

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."

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  • Comparing apples with fish?

    This is a very weird article in that it talks about rates relative to A YEAR AGO, each being significantly worse, of course due to the Brexit vote in June. Then, suddenly it refers to travellers to "Japan, Mexico or Malaysia" getting better rates than LAST SUMMER. Obviously this was AFTER the vote and hence makes the comparison drawn hugely misleading. In fact the Sterling rate against the Japanese Yen is a solid 16% DOWN on a year ago.

    By ex Severn, Friday, February 17, 2017

  • Gibraltar Pound for Pound

    Basking in over 300 days of glorious warm sunshine a year, Gibraltar enjoys great Mediterranean weather. Given Rob Thomas's valid concerns expressed above don't ignore this wonderful holiday destination, which accepts sterling and that means your pound is worth a pound and you get great value for your money. But being popular and small means you will have to book early to avoid disappointment!

    By James Gaggero, Friday, February 17, 2017

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