Although the United Kingdom is one of the closest European destinations to the United States, it’s been out of reach for many Americans for a long time, due to the unfavorable pound to dollar exchange rate.
Last week’s “Brexit” vote, in which Great Britain voted to leave the European Union, could change all that, as the results have caused the pound to plunge. What does this mean for you? It could mean a cheap vacation to England, Ireland, or Scotland is in your future.
“With their currencies weaker, fewer British and Europeans will visit the U.S. That will result in lower airfares for U.S. visitors,” notes George Hobica, founder of our sister site, Airfarewatchdog. “Expect airfares from the U.S. to Europe and Britain to go even lower. The day after the Brexit vote, we saw airfares to London on Virgin Atlantic and other airlines for fall travel reduced to $500 round-trip.”
I did a quick search for flights to the U.K. and found fares to smaller cities (such as Manchester) for under $600 round-trip this summer. Deciding when to pay for accommodation and buy your pounds will be a bit of a gamble, though: The pound hit a 31-year low against the dollar on Monday morning, so you’ll have to decide whether or not you think the pound will continue to fall against the dollar, or if it will recover before you travel.
The takeaway: If you’re looking to vacation across the pond this summer, now is the time. Your dollar should go further, and you’ll get in before any of the travel regulations restricting movement between the U.K. and Europe take effect, which could cause big headaches later on.