Brexit means Australians will benefit from cheaper holidays
If you’ve been putting off a holiday to the UK due to it being one of the most expensive foreign destinations for Australians, now may be the time to book those flights. Aussies are being urged to take advantage of the dipping value of the pound in the wake of Britain’s decision to leave the EU, which caused the sterling to plummet to its lowest level since 1985.
Economists are predicting that Australians will flock to the UK, which will become a much more affordable destination for foreign tourists – at least in the short term. There has already been an unprecedented surge in Aussies purchasing pounds, with currency exchange chain Travel Money reporting queues out the door to “secure pounds”, according to the Sydney Morning Herald.
While we may reap the rewards of the Brexit, the decision will likely have the opposite effect on UK holidaymakers. “The next 24 months of negotiations will be crucial for British travel - particularly if the UK government wants to maintain inbound tourism from the EU, and avoid a price hike for Britons wanting to travel abroad for holidays.” UK Managing Director of Travelzoo, Joel Brandon-Bravo, told the Sydney Morning Herald. “Obviously top priority is dealing with the impact the referendum result will have on the value of the pound, but there are other factors that could make the result a big blow for the travel industry.”
For the meantime, it’s recommended that you start packing your bags and enjoy the cheaper travel while it lasts.
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