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    Friday, June 22, 2018

    Cheaper Destinations Since the EU Referendum

    Tomorrow marks the two year anniversary of the Brexit referendum (23 June). Currency expert FairFX has revealed some of the holiday destinations that are cheaper now than they were two years ago when comparing the pound against foreign currencies.

    Two years ago tomorrow (23 June) marks the anniversary of the Brexit referendum.
    The pound has struggled against the euro and has fluctuated ever since.
    This has meant travelling abroad is more expensive for British tourists, with the pound dropping against the euro.

    Today, sterling is 12 per cent lower than the euro than it was in 2016, meaning European holidays cost more.
    Thankfully, a number of destinations are now better value than they were two years ago.
    Currency analyst FairFX found that going further afield means getting more for the pound.
    Argentina revealed a difference of 72 per cent since one year ago, getting £420 more now when converting £1,000.

    This was closely followed by Mexico, a difference of 20 per cent which equates to £164 more, and Brazil, 18 per cent and £150 more.
    World Cup fans will be pleased to hear that Russia is a better destination to visit now rather than last year as visitors get 13 per cent more for their money, working out to be £118 more.
    To get the best value for the currency, Britons should never leave it too late as well as being advised to track the exchange rate, and purchase foreign currency when rates reach a high.
    FairFX CEO Ian Strafford-Taylor explained how the referendum has affected British travellers: “The past two years since the Brexit Referendum have been eventful for the pound to say the least.
    “Political uncertainty has a huge impact on the stability of currency as the past two years has showcased.
    “It’s never been more important for consumers to be aware of fluctuations and the political agenda so that they can prepare as much as possible and buy currency when the pound is at its strongest.

    “As people become aware of the impact politics can have on currencies, we’re seeing an increasing number of people topping up their prepaid cards on a much more regular basis as and when the pound is performing well.
    “Planning ahead and staying alert to the pound’s progress is the best way to make sure you get the most travel money for your hard-earned cash.”

    Best value destinations compared to last year
    Argentina: 72 per cent (£420 more)
    Mexico: 20 per cent (£164 more)
    Brazil: 18 per cent (£150 more)
    Russia: 13 per cent (£118 more)
    Iceland: 11 per cent (£100 more)
    India: 10 per cent (£92 more)
    South Africa: 9 per cent (£81 more)
    New Zealand: 8 per cent (£77 more)
    Switzerland: 7 per cent (£63 more)
    Seychelles: 6 per cent (£58 more)

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