Posted on Monday, 27 June 2016

As the news sinks in that the UK has voted to leave the European Union, many Britons will be concerned about the impact of the referendum on their summer holiday plans. While you may not have as much money to spend this year, with a little preparation you will still be able to have a pleasant, relaxing break.

Immediate Impact

As has been reported regularly, the pound has fallen against a range of currencies since the vote, which of course means less money to spend while you're overseas.

The Euro

Last summer the pound reached 1.43 against the euro - the most popular area for UK holidaymakers to visit. At time of writing (27/6) one pound buys 1.21 euros, meaning you will get around 15 per cent less money this summer. The slide against the euro may be mitigated by the fact that the euro itself has tumbled on news of a so-called "Brexit".

The Dollar

In July of 2015 the pound bought $1.57, but has since fallen to $1.34 – also a drop of 15 per cent.

Other Currencies

The UK pound bought just over two Australian dollars last July; today it buys 1.80, a fall of around 10 per cent. Thailand, another popular destination among British travellers, will also be more costly to visit now: 1 GBP bought 52 Thai baht before the referendum; at present it buys 47.5 - meaning we now get around 9% less baht for our money.

Tips for Saving Money During Your Holiday

• Make sure you get the best rates for your pound when buying currencies like the euro and dollar. Avoid airport exchange offices since they tend to charge much higher rates than high street outlets.
• Make sure your baggage is within weight restrictions to avoid paying extra fees.
• Book in quieter periods of the year to bag lower-priced hotels, flights and package breaks.
• Spend more time searching for deals. Try many different dates to get the lowest flight fares.
• If you can, don't check in hold luggage; avoid frills like priority seating and priority boarding; don't buy on-board meals; don't request text message confirmation; don't make payment by credit card.
• Bring your own transparent plastic bags to put your liquids in when going through security. Some UK airports charge for these. Each bag must be transparent, measure 20x20cm and hold no more than a litre.
• Plan how you will get to your hotel from the airport. Find out the correct fare for a taxi to avoid getting ripped off. Find out if there is a cheaper train or bus you can take. Perhaps your hotel offers free airport transfer – find out.
• Take your own food. As mentioned above, budget airline food can be a costly extra, but so can snacks and meals in airports.
• Consider overnight travel. If you sleep sufficiently well in a sitting position, consider travelling overnight to avoid the price of a hotel.
• Where possible choose coach travel instead of plane or train. There are often good coach deals that offer cheaper travel.
• Once at your destination, try walking instead of using public transport or taxis. Cities like Rome, Madrid and Paris have walkable centres.
• Book beach-side accommodation without a pool. Apartments with pools cost a lot more than those without. Book a place nearer the beach and use it as your own natural swimming pool.
• There is no tax or duty free shopping within the EU. But outside the Union, in countries like Morocco, Turkey and Singapore, you should be able to claim back any VAT you spend. Keep your receipts and show them at the airport when you depart.

Remember that 15-20% Figure

The above tips, when combined with modest daily cutbacks, should mean that reducing your holiday costs by 15 to 20 per cent (the amount the pound has or is likely to drop by) is relatively painless to achieve.

For Older Travellers...

Many world-famous attractions and museums – especially in Italy – are free for European citizens over 65. You just need to show your passport. Again, we will remain in the EU for at least two more years, so make the most of it. Make sure you ask about other discounts for older people.

Insurance for Over-60s

It's important to be protected against unexpected events while on holiday. There are insurance policies designed especially for the over-60s. Don't be tempted to cut back on travel insurance – dealing with issues such as illnesses, injuries or cancellations could cost you many times more than the price of an insurance policy.

At starttravel.co.uk we provide our Over-60s Travel Insurance product to thousands of older travellers each year in the UK.

Some of the benefits of our 5-star policy are:

• Up to 185 days covered on single trips
• No excess to pay
• Emergency medical expenses up to £10,000,000
• Cancellation up to £4,000
• Personal effects and possessions up to £2,000
• Legal expenses up to £25,000
• Over 60s' travel insurance available from only £9.48* for a week in Europe!

Get a Quote