Falling pound set to hamper foreign holidays

• 24th May 2013

Those who are planning to go away on foreign holidays over the next couple of months are set to face rising costs abroad, according to new research.

This is due to the fact that British sterling has fallen in its value against 80 per cent of the world's top currencies, including those in Europe, Australia and the US. British travellers who are visiting Mexico are set to be hit the hardest, according to the data, as the pound has fallen 10.5 per cent against its currency of the peso since last May.

The pound has also fallen by 9.8 per cent against the Thai baht.

The study was carried out by foreign exchange specialist Moneycorp. Talking about the statistics, Matthiijs Boon, a representative of Moneycorp, told express.co.uk: "This weak performance of sterling over the past 12 months means our summer pounds aren't going to stretch quite as far as they did last year.

The data might convince some Brits to stay at home for the summer instead, maybe going on a city break, or visiting one of the many campsites situated around the nation.

It might also help boost VisitEngland's latest campaign, which encourages Brits to holiday in the UK. The campaign, which features well-known animated characters Wallace & Gromit and was launched this month, is also backed by other tourist boards - as well as the government, according to bbc.co.uk.