Holidaymakers will be disappointed to find out they’ll get 12.8% less for their pound in the most popular holiday destinations.
Research from Santander bank has found that since the UK’s historic referendum on EU membership on 23 June 2016, the value of the pound has plummeted some 12.8% on average.
While this is good for British exports, it is problematic for holidaymakers going to the most popular destinations, such as France, Spain, and the US.
However, there’s good news if you intend to spend your summer holiday on the Turkish Riviera: the pound has risen 5.5% against the Turkish lira, bucking the otherwise downward trend against nine other currencies.
The table below shows how far your pound will go in 10 popular holiday destinations.
Of course, the best way to ensure you get the top exchange rates abroad is to use a specialist overseas card. As Matt Hall, head of banking and unsecured credit at Santander, says: “With the pound losing a significant amount of value on the most popular currencies over the past year, holidaymakers’ pockets are already stretched but, by using a cost effective payment method, they can make sure they don’t inadvertently throw more money away.”