Brexit Prospect Causing Holiday Spending Cutbacks

EU and UK flags coalition together

Falling GPB impacting one in four holidaymakers

One in three holiday travellers considering measures to make their Pounds go further

With the Brexit vote on the horizon, a recent survey commissioned by Holiday Extras has revealed that British holidaymakers are concerned about the plummeting value of the Pound against the Euro, with nearly a quarter (22%) admitting it will impact their choice of holiday destination this year.

The research also indicated that uncertainty surrounding Britain’s future relationship with the EU is shifting our behaviour in holiday resorts, particularly amongst women. Forty per cent of women polled said they will be taking cost-cutting measures this year compared to 28% of men. This includes limiting the amount they will be spending while on holiday (14%) and sticking to a pre-planned budget by purchasing Euros ahead of their holiday (26%).

Travellers are also expecting to cut back on food and drink while away this year, with a third (32%) declaring they will be avoiding the minibar and expensive hotel meals and 19% considering self-catering options, compared to just 7% who will be cutting down on shopping and souvenirs. With many elements of the holiday being cut back to save costs, it seems that making bookings in advance is not the preferred method with only one in ten (11 %) travellers even considering booking travel add-ons or tours in advance.

Looking on the brighter side for service providers on the Continent, the British sense of fair-play seems to be as strong as ever; as the poll also revealed that we’re least likely to cut back on holiday tipping and service charges.

Communications Director at Holiday Extras, Ant Clarke Cowell explains: “With the EU referendum approaching, and the Pound slipping to a six-month low against the Euro, cost-conscious holidaymakers are starting to think about how to make their money go further. It’s surprising to see that just one in ten is considering booking travel add-ons such as airport services and tours at their end destination in advance – as this is one of the quickest and easiest ways of saving money, and we’d always recommend doing it, regardless of the value of our currency.

“Organising a pre-paid currency card in advance is also a brilliant way of avoiding those poor last minute exchange rates. The FairFX card is perfect for families that want easy, secure access to money without the hassle of handling of foreign currency.”

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*Holiday Extras polled over 5,072 holidaymakers from across the UK in April 2016.