Foreign holidays will be more expensive in 2017 after Brexit
Uncertainty over Brexit, the rising cost of oil, the value of the pound and global terror concerns will all affect the cost of holidays according to leading travel agencies
Brits could find their holidays costing as much as 20 per cent extra next year.
The price hikes will be affected by a toxic combination of the sliding sterling, the rising cost of oil, global concerns over terror and continued uncertainty at home over the effects of Brexit.
The news comes from a study by travel deals publisher Travelzoo, who surveyed a wide range of travel companies about their predictions for the coming year.
According to their research, four out of five travel companies are expecting price increases for holidays next year, with a minimum of 10 per cent extra compared to the same trips this year.
UK managing director Joel Brandon-Bravo said: “The impact of sterling’s fall in particular has not really been felt in holiday pricing to date, however all the signs are pointing in the direction of price hikes for many popular holiday destinations in 2017.
“Until now British travel companies have been absorbing some price increases on costs such as hotel rates set in euros and many have been selling holidays at prices set before the June referendum.
“Businesses cannot do this indefinitely, however, and we expect pricing for next year’s holidays to increase by at least 10 per cent.
“For almost one fifth of those we spoke to, the increase could be as high as 15 to 20 per cent.”
Travelzoo believe that a UK economy battling the effects of Brexit, combined with concerns about terror attacks in certain traditional holiday destinations means it will be harder than usual to get a bargain.
Brandon-Bravo said: “If one catches a cold, the other can normally soak up the additional expense. However, when both are struggling – as they are right now – something has to give.
“If destinations such as Sharm el-Sheikh and Tunisia remain closed to the UK this will continue to put pressure on pricing to ultra-popular western Mediterranean destinations.”
The news comes just days after Mark Warner Holidays added a surcharge of up to £50 per person to bookings – because of Brexit.
The tour operator blamed currency fluctuations as a result of June’s vote to leave the EU for the additional charge to customers’ holiday packages.
