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Is Brexit the Reason for Brits Putting their Holidays Abroad on Hold?

Many Brits are putting their foreign summer holidays on hold due to the results of the June referendum.

With a referendum result that has shocked many, the leave campaign, led by Boris Johnson, received 52% of the British votes, and the remain campaign, led by Prime Minister David Cameron, received a close 48% of the British votes. The Brexit result has left many Brits feeling uncertain about foreign travel, with one in ten saying that they will be putting this year’s foreign summer holiday on hold.

Research carried out by VoucherCodes.co.uk, claims that 5% of Brits are waiting for the Brexit result to calm down before booking their holiday. Another 5% also said that they have changed their minds about taking a foreign holiday, and will be taking a staycation rather than going abroad this year. A staycation is where people holiday in their own country, rather than going abroad (a merge of ‘stay’ and ‘vacation’.) The research also suggests that a staycation will be taken by 51% of Brits, a 7% increase and 4.5 million more than last years figures.

It is said that Brits will be spending more on their staycation this year than last, with the average Brit taking a staycation predicted to spend around £686 on their British break this summer, a rise of 55% on last year. However, because of the Brexit result, a proportion of Brits going abroad this year propose to be spending less on their holiday abroad.

Cornwall, for the 5th year running, is said to be the most popular destination for the British staycation this year, with 12% of Brits proposing to holiday there. Other popular staycation destinations for Brits include, London, The Lake District and The Scottish Highlands.

Staycations are currently favoured by many Brits mainly because of the cost factor. The research shows, that 18% of Brits asked, said their reasoning for taking a staycation this year was because they were unable to afford a foreign trip away. With an additional 16% claiming that they get better value holidaying at home, rather than deciding to travel abroad.