Falling pound hits winter holiday market

Falling pound hits winter holiday market

As many as 40% of travellers have changed their plans for a last minute winter getaway because of the weak pound, it was claimed yesterday.

The figure came from a poll of 1,000 people by the Money Saving Expert website.

Entrance to the Empire State Building in New York will now cost a family of four back £94 compared to £75 just 12 months ago.

Flights and seven nights at a four-star hotel in Times Square will now cost nearly £1,000 per person. Last year, the cost was less than £800.

Families flying to Tenerife will find a two-course meal with wine at a mid-priced restaurant for a family of four will now cost around £90 rather than £72 this time last year.

The cost of hotels and flights to the Canary Islands have yet to be affected because package holidays are usually negotiated by travel firms months in advance. But experts warn prices will likely rocket next year.

Helen Saxon, chief product analyst at MoneySavingExpert.com, told The Mail on Sunday: “It seems this extra cost is likely to stop some people from going on holiday.

“A family of four going to New York at this time last year would have got around $1.55 to the pound. But that same family taking the trip this year will only get $1.22 to the pound.

"So, if the family had spent $2,000 on hotels, eating out, attractions and getting around, it would have cost them £1,290 last year, compared to £1,640 now.

“The post-referendum fall in the value of the pound has cost this family a whopping £350 extra on the same holiday.”

However, an Abta spokesman played down fears that Britons will stop holidaying abroad, insisting tourists will instead cut back on spending while away and opt for all-inclusive packages.


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