How Brexit will affect travel money and trips

Travel money and travel - brexit

Regardless of whether you’re an innie or an outie, I think we can all agree that discovering we were a Brexit majority was one of the biggest shocks to hit our shores in recent times. We are now leaving the European Union and the financial implications of such a move are still only just becoming fully realised.

As a bit of a travel addict myself, I’m particularly interested to know how Brexit will affect holidays, travel money and exchange rates.

It is worth noting that although the UK has voted to leave the EU, negotiations will take place over the next two years so there’s no need to panic about holidays just yet. We can only really speculate over the various travel implications of Brexit.

Here are three popular topics of post-Brexit travel debate that we’re keen to help clarify:

1. The best time to buy euros / travel money

Since the referendum result the pound is down against the euro and the US dollar by about 12 to 15 per cent, but whether the ‘wobbly’ pound will continue to fall or regain strength is anybody’s guess.

High street exchanges, travel agents and bureaux de change are becoming more competitive and will continue to become more competitive if sterling continues to fall, meaning that there should be opportunity to get good deals on travel money if things do worsen.

2. Flight prices may rise

We already pay double what we used to pay in the 1990s on flights and whether we’ll now see further increases is largely unknown. Any increase in the price of aviation fuel as a result of European negotiations may mean increased costs are passed to passengers.

3. Holidays will cost more – for now at least

Because of the drop in value of our pound, in the short term, all of our European holidays will cost more. Everything from the price of coffee to the price of a hotel room will now cost us Brits more because we get less for the pound. This should level out in time.

Save more with travel vouchers

No matter what’s happening with sterling or Brexit, you can always get a good deal on flights, hotels or travel money if you know where to look. Booking travel on the internet has allowed us to check, research and cross reference everything before we buy to ensure we’re getting the best possible deal. And there’s never been a more important time to do your research and make sure you’re getting more for your money.

Check out top travel deals at Savoo today and guarantee yourself a great value trip.

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