If you are from the UK, when you travel abroad, your pounds will now buy you fewer euros or dollars, the cost of accommodation and food will rise and your spending money won't go as far as it did before Brexit.
However, if you are from abroad and want to travel to and tour the UK, things have never been better.
1. Exchange Rates.
The immediate effect after the Brexit vote is that it’s a good time for American travellers to tour Britain and Europe.
This is of course due the the exchange rates and the falling pound and Euro.
2. Price Cuts.
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The American dollar is about 20% stronger compared to the British pound at the moment, your dollar will also stretch much further in Europe.
That means that nearly everything purchased by Americans visiting the UK will be cheaper. This includes alcohol, food, museums and many tourist attraction and guided tours.
3. Hotel Rates.
The Brexit vote may have an effect on European visitors to the UK which will mean hotels will probably charge less due to lower demand.
Book your hotel now if you are thinking of visiting the UK and pay in full to make sure you get the favourable exchange rate as prices may go up later.
If you have already made a deposit payment, ask the hotel to process your final bill as a new transaction, again, to make sure you get the favourable exchange rate.
4. Flight Prices.
Airfare rates may also be affected and go up or down depending on where you are travelling from.
For example, people may be put off going to America because of the exchange rate, so airlines will have to reduce prices to fill seats.
On the other hand, according to the 'Association of British Travel Agents (ABTA)', travellers may face higher airfares between the UK and the European Union because of all the financial uncertainty caused by Brexit.
5. Britain and Europe on Sale.
Last but not least, Britain and Europe is more or less on sale at the moment due to the weak pound and Euro compared against other currencies.
It may not be good news for the British, but for American tourists, Brexit has provided a fantastic opportunity to visit the usually expensive UK and Europe on the cheap.
Whether you book a flight, hotel or full package coach tour, you will grab a bargain - visiting the UK and Europe from the USA has never been so enticing.