The average family holiday abroad to Europe will cost almost a fifth more this year than it did in 2016 following the Brexit vote last June.
The claim comes from foreign exchange firm Travelex which suggests a price hike of 18.2% – equating to £518 – in less than a year.
The company calculates that an average family holiday cost £2,333 last year but will rise to £2,851 this summer.
Travelex global head of retail, Vincent Arcuri, said: “Due to the price hike in family trips to Europe, it’s more important than ever travellers get the best value for money.
“One way to get the best deal is to use our Travel Rate Tracker. It monitors exchange rates so you don’t have to, and helps you get the most foreign currency for your pounds.”
The company has also teamed up with finance guru and TV journalist Jasmine Birtles to suggest money-saving options.
By swapping from market-leading brands to some cheaper alternatives when it comes to holiday essentials, consumers could easily save more than £518, Travelex claims.
Other tips include house swapping and considering alternatives to flying.
