Staycation boom from Brexit could keep the economy going

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This could be the summer of the staycation. Brits have been persuaded by a unique combination of factors, that they are better off staying closer to home for their holiday this year. It might not be the best news for sun-worshippers, but it could be just what the economy needs.

Research by Policy Expert found that 84% of people will be making UK trips this summer. Some 46% said it was easier than going overseas, some 28% saved money on accommodation by visiting family and friends, and 11% said they were too worried by the threat of terrorism to risk going abroad.

It's also safe to assume that the fall in the value of the pound holds some of the blame, given that TravelSupermarket has calculated that the average holiday for a family of four is now £245 more expensive than before the country voted to leave the EU - because of currency movements.

Then there were those who had planned a trip abroad with Lowcostholidays, who are unlikely to be able to afford a second overseas booking, and will have to spend the two weeks they booked off closer to home.

The upside

Fortunately, the Policy Expert research showed that 60% were reasonably happy about the prospect of a staycation, on the grounds that there are plenty of great places to visit in the UK. The most popular destination for a break was the South West, followed by Wales, Yorkshire, and the Humber and Scotland.

The most popular choice for a break is the seaside, followed by day trips, city breaks, and caravanning. Bizarrely the next most popular type of staycation is simply taking time off to spend on the sofa.

This is music to the ears of anyone in the tourist industry, as bookings of hotels, caravan parks and campsites across the country have boomed. In popular locations, the local economy is also likely to benefit, as people spend around a fifth of their disposable cash on their holidays, so are likely to be prepared to splash the cash on meals out and entertainment.

Asda Money estimates that people on staycations will put £8 billion back into the UK economy over the summer

Plus there's the added advantage, while you stare out of your tent at a rain-sodden campsite, you can be sure that you're building character - which is bound to come as a huge consolation to the whole of your family.

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The ten best value city break destinations
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The ten best value city break destinations

In a survey of popular city break destinations, by Caxton FX, Berlin was named as the tenth most affordable.

The researchers looked at a number of common holiday expenses, and Berlin scored particularly well on the price of a glass of wine and a Big Mac.

Nobody who has ever visited Paris would ever expect to see it on a list of affordable destinations, but the falling value of the euro, has brought prices down across the board - putting the city in eighth place.

None of the expenses assessed by the researchers were strikingly cheap - except the cost of a taxi ride.

You could be forgiven for being bemused by the presence of such an expensive city on the list, but there's one good reason for it.

Despite coming out among the priciest destinations for everything else, the researchers also included the typical cost of a visit to a world-class museum. In London's case, this is free - gaining it a place in the top ten.

This is another destination where the falling euro has made a visit far more affordable recently.

Relatively cheap alcohol and museums were largely responsible for its strong showing at number seven on the list.

It's not just the home of bureaucracy and beer, Brussels is also a cultural centre with bargain museum entrance fees, and cheap local transport.

The fall in the value of the euro has made Dublin excellent value for visitors. Relatively affordable food and drink - and a free national museum, put the city in fifth place overall.

It's also by far the closest of the top five most affordable destinations - putting it within reach for even those on the tightest budgets.

Prague has always had a reputation for affordability - which is one of the reasons why it's so popular with stag weekends.

The booming tourist industry has put prices up a little, but it still holds onto fourth place. The researchers were particularly struck by the affordability of a glass of wine in the city.

The Moroccan city is incredibly cheap for all sorts of travellers' essentials. So, for example, a daily travel card will set you back little more than 30p.

In fact the only area where the city scored poorly was in the cost of a glass of wine - where it was the second most expensive of the top ten (after London).

The Hungarian capital has so much to offer - from the architecture and history to the nightlife - that the affordability of the city can come as a surprise.

The researchers found that all of their typical travellers' costs were affordable in Budapest.

The cheapest destination of all was Instanbul. Here researchers found that a glass of wine will set you back £2.08, a day’s travel card £3.90, a Big Mac £2.66, a 30 minute taxi ride £11.18, and the national museum is free. In total it put the cost of a day's entertainment at a bargain £19.82.
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