Brexit – and the consequent uncertainty of the UK’s separation from the EU – has sent the pound to euro exchange rate in turmoil. With Britons not able to get good value when trading their pounds to euros, many have opted to shun holidays in the Eurozone altogether until the departure date of October 31 and beyond. Express.co.uk has previously reported how prospects of a Brexit departure deal have sent sterling soaring, while the potential for a no deal Brext has sparked a slump. Yet GBP has not reached the strong levels seen prior to the 2016 Brexit Referendum.
As such, Louis Bridger, Head of ICE currency exchange, spoke exclusively to Express.co.uk about where Britons can max out their sterling on long-haul trips.
He told how South Africa and Egypt were the best value, even if it meant travelling a little further compared to EU destinations.
Louis said: “There are still plenty of destinations where Brits can enjoy good value – but it might mean looking outside the Eurozone.
“Other great value destinations include South Africa, where £1 will get you 19.17 South African Rand, and Egypt, where £1 will get you 21.33 Egyptian Pounds.
“To put this in context, you can get a decent meal at a restaurant in Cairo for £3.41, and for around £6 in Cape Town.
“I went to South Africa in January and couldn’t believe the cost of food and drink – especially wine – over there.”
Meanwhile, Express.co.uk previously told how Britons have cut back their holidays abroad in light of current Brexit chaos.
Those living in the UK have decreased their vacations overseas in light of turmoil surrounding the UK’s exit from the EU, which is scheduled for October 31.
Official figures from the Office of National Statistics show a one per cent fall in the number of UK residents heading abroad.
It showed there were 71.7 million visits overseas by UK residents in 2018, a decrease of one per cent when compared with 2017.
A no deal Brexit has also sparked fears over the validity of millions of passports, with extra months validity needed for UK travellers.
Additional research has show Britons are pumping for staycations over trips abroad, so as not to lose money on exchange rate transfers.
Trips by Britons to tourist favourite Benidorm have also dropped in light of the political crisis.
Meanwhile, as well as showing a drop in the number of Britons heading abroad, the findings revealed how UK residents spent £45.4 billion on visits overseas in 2018, which was one per cent more than in 2017.
This suggests they may be making long haul journeys, and therefore venturing outside the EU.