How will EU exit affect my summer holiday?

The cost of foreign holidays is predicted to rocket following the Leave vote.

The cost of foreign holidays is predicted to rocket following the Leave vote.

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As South Yorkshire comes to terms with the vote to leave the EU, many are now turning the thoughts to the big question: How will it affect my summer holiday?

Today's fall in the value of the pound following the Brexit vote will make holidays to the EU MORE expensive, as we will have to pay more for accommodation priced in euros.

Before the vote, Prime Minister David Cameron claimed that a holiday for four people for eight nights would cost £230 extra, as a result of sterling's devaluation.

The cost of food and drink on foreign holidays will also rocket - meaning that you'll get far less Euros for your pound in your pocket.

However, the cost of flights would depend on individual airlines, and whether the base price is in pounds or euros.

Both Easyjet and Ryanair have argued that flights will become more expensive, as a result of more restrictive aviation rules. But IAG, the owner of British Airways, has said a UK exit from the EU would not affect its business.

If you have already bought your holiday money and are locked into a rate of exchange from before yesterday's vote, there should be no material difference in cost. If you haven’t, then you will get a lot fewer euros for your sterling after the “leave” vote.

The UK’s departure will not take effect for at least two years and in the interim, all relations with EU countries will remain legally exactly the same.

Your passport, driving licence and European Health Insurance Card will continue to function exactly as now, and the rules on mobile roaming will remain the same this summer. Even the EU-wide elimination of roaming charges next June will take effect.

But what happens after that remains to be seen.

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