British holidaymakers can best avoid being hit by damaging currency fluctuations due to the falling pound by choosing an all-inclusive cruise over an overseas land holiday, says CLIA.
Nigel Green, founder and CEO of deVere Group – one of the world’s largest independent financial advisory organisations – released a message earlier this week stating how the falling pound due to the potential of a no-deal Brexit is having a drastic affect on British holidaymakers’ spending power.
Following the no-deal Brexit preparations being ramped up newly-appointed Prime Minister Boris Johnson, the pound fell to an all-time low this week.
Nigel Green comments: “For the fourth consecutive summer, millions of British holidaymakers are finding their spending power is negatively impacted by the beleaguered, Brexit-battered pound.
“Overall, the pound is the worst-performing major currency in the last three months, meaning almost every destination is now more expensive than it was for Brits. Brexit has been a hammer-blow to the pound and this has been exacerbated by Boris Johnson becoming Prime Minister.
“As such, demand for solutions to the weak pound is set to soar by UK travellers and British expats over the summer as sentiment towards sterling remains dismal due to an increasing probability of a Boris-driven no-deal Brexit.”
Green notes how the plummeting pound is bad news for British holidaymakers abroad, making trips to the US and Europe increasingly expensive with the falling pound against the Dollar and Euro. He has therefore called for British holidaymakers to “get savvy” and “seek alternative ways to reduce the hit to their pockets of a poor-performing pound.”
Among his advice to British holidaymakers to reduce the impact of a plummeting pound include having a prepaid multi-currency card to dodge hefty transaction fees and to avoid using ATM’s while overseas, as these often have hefty hidden costs attached.
While the sinking Sterling will inevitably have a negative impact on holidaymakers, Andy Harmer – CLIA’s UK and Ireland director – notes how this is why cruises are the best holiday of choice in the current climate, offering all-inclusive packages that enable passengers to avoid hefty costs when they travel abroad.
“Cruises are the best way to avoid currency fluctuations as they are the most inclusive of holiday choices,” he comments.
“More is included in the cost of a cruise than an equivalent package holiday, such as varied dining options, accommodation, entertainment, daytime activities, and kids’ clubs; and sometimes even drinks and excursions. Plus the cruise will transport guests from one destination to another.”
As such, agents should make sure to highlight these points to British holidaymakers who are considering going away on holiday, as booking a cruise could be one of the best options to avoid a damaging hit on their finances.
