- More than one in five Brits would have voted differently on Brexit if they had known the impact it might have on their holidays
- More than half worried about spiralling costs of European travel
- Large numbers set to change holiday habits with reduced holidays, staycations and breaks outside of Europe
New research by currency provider, International Currency Exchange (ICE), has revealed that worries about the negative impact of Brexit on holidays is causing some Brits to regret the way they voted, with nearly a quarter (23%) admitting they would have voted differently had they known how Brexit could affect their travel plans.
Over half (55%) of Brits are worried that Brexit will result in higher costs abroad – including eating out, mobile-roaming charges and the cost of buying currency. Over half (51%) also expressed concern about higher booking fees for flights and accommodation
More than two in five (44%) said that they are concerned about potential delays at immigration and passport control and over a quarter (28%) said they feel worried, anxious (23%) and hesitant (33%) about going on holiday after the 29th March.
Leave voters are most concerned about the higher costs of going on holiday (42%) and the additional admin (35%) that may occur, such as getting a visa.
Many respondents said they would actually be changing their holiday plans after Brexit. A fifth (20%) of holidaymakers revealed that they will start travelling outside of Europe; a further 20% will opt to have a staycation; and 20% will cut down on the number of trips they take. Some 14% say they simply won’t go on holiday for 12 months as a result of Brexit.
Speaking about the findings, Louis Bridger, General Manager at ICE, commented: “There is a lot of uncertainty for all industries when it comes to Brexit and the travel industry is no different. Brits are understandably concerned about the potential admin burden of travelling to the EU after Brexit, but it’s interesting to see that this – coupled with the projected increase in holiday costs – has prompted some people to regret their decision.
The value of the Pound has dropped significantly against the Euro since the vote and it’s difficult to predict exactly what will happen to exchange rates over the coming months. People looking for a good deal on their travel money for next year could avoid uncertainty by getting their Euros sooner rather than later, and by ordering online at www.iceplc.com where we offer discounted rates.”
For the International Currency Exchange guide on the best destinations to visit post Brexit, click here.
Notes to editors:
- Survey of 1,000 UK residents conducted on behalf of ICE by TFL in October 2018.
About International Currency Exchange
International Currency Exchange (ICE) is one of the world’s leading providers of retail Bureau de Change and online foreign exchange services – https://www.iceplc.com
The company began small with one location at London Victoria Railway Station, but is now proud to be an award-winning, global currency exchange operator, with branches throughout Europe, the United States, Mexico, Canada, Asia and Australia. The ICE brand now covers a wide variety of services, including travel money, Click & Collect, prepaid currency cards, private and business money transfer, and business opportunities for individuals and corporate clients. Business opportunities include our affiliate programme, ICE Events, multi – currency ATMs, and wholesale services.