British holidaymakers are feeling the effects of Brexit and weaker exchange rates on their overseas spending, with the average traveller to the EU saying they are £51 worse off per week, according to a survey.
This is based on the average UK holidaymaker spending £241 per week while on holiday and exchange rates plummeting 17.5% (from a high of 1.43 to 1.18) since the vote to leave the EU.
This means an average family of four taking a fortnight’s holiday in the EU needs an extra £408 to match their spending on the same holiday last year.
Alastair Graham, spokesman for Prepaid International Forum (PIF), which carried out the research, said: "Holidaymakers have always been subjected to poor exchange rates and extra charges when spending their money abroad."
He added recent fluctuations in exchange rates have made people aware of alternative solutions such as pre-paid cards and contactless and mobile payments such as Apple Pay.
The survey was carried out among £1,000 UK adults in July.
Remain voters are hardest hit, according to the survey, with 54% who voted to stay in suffering from weaker exchange rates on foreign summer holidays compared to 46% of those who voted to leave.
Remain voters also reported spending more while on holiday (£258 per person, per week compared to £221) further increasing their post-Brexit losses.
