It was announced today (28 October 2019) that EU leaders have agreed in principle to extend the deadline for Brexit until 31 January 2020.
The UK was due to leave the European Union on Thursday, but Prime Minister Boris Johnson was required to request an extension after Parliament failed to agree a Brexit deal, which has now been granted.
As Brexit remains as unpredictable as ever, British travellers continue to be shrouded in uncertainty as to what to do about their holidays in 2020 and beyond, as latest statistics from WeSwap have revealed.
According to the leading currency exchange platform, 54 per cent of Brits (28.1 million) are most concerned about the impact that Brexit will have on the cost of foreign currency and holidaying in general.
For millennials, 63 per cent are concerned that the cost of their holidays will increase once the UK leaves the EU.
Almost two thirds of Londoners and 60 per cent of Scots fear that holidaying in general will become more expensive. Out of those aged 55 and over, who voted to leave the EU, only 24 per cent believed Brexit would not make their holidays more expensive.
Finally, 30 per cent (15.6 million) believe that Brexit will affect their holidays more than any other aspect of their life, and 43 per cent of those aged 18-34 believe that their travels abroad would the area of life most affected by the UK’s withdrawal from the EU.
WeSwap’s data has been taken from a survey of more than 2,000 UK adults to find out how the nation believes the likelihood of Brexit will impact their holiday travels.
WeSwap’s chief marketing officer, Rob Stross, has commented how it is “near impossible to predict exactly how Brexit and upcoming political events will impact our everyday lives and our freedom to travel to all corners of the globe”.
He has therefore released some useful advice to travellers to help them when holiday planning:
“For those who are still planning on booking a winter break, it is best to prepare as early as possible for any possible outcome. From travel insurance, checking passports to buying foreign currency, preparing these as early as possible is more likely to mitigate risk.
“As for travel money, it is always best to exchange money as early as possible. Last minute travel money purchases, in locations such as an airport bureau, are always likely to lead to less bang for your buck as merchants are able to offer whatever exchange rate they like, knowing holidaymakers have no choice but to accept.
“As for those who are concerned about the possibility of the pound’s value falling further due to current political events, it may be best to buy half of your holiday money today and half later. That way, you can assure that you avoid paying higher rates on all of your cash.”