Brexit caused an utter chaos in Great Britain and all over the world – tumbling pound, plunging world stocks, political divisions and instability, loss of investment, and overall uncertainly about the fallout. The divorce between the European Union and the U.K. will take at least two years to be finalized, but some of the consequences are already clear. This is the perfect time to pack your bags and take a trip to England – get out there while it’s less expensive. The historic drop of the local currency is dragging airlines, fashion brands, sports and even chocolate with it.
Great Britain’s decision to leave to EU has caused the pound to plunge to a historic low. The value of sterling collapsed to a 31-year low on currency markets. The local currency bounced back just a little over the last few days, but, experts say, this is just a technicality. As of June 30, 1 GBP = 1.34783 USD. The GBPUSD has lost 13.77 percent during the last 12 months from 1.56 in June of 2015. Given the strong dollar, you will get a lot more for your buck. Hotels, food, drinks and transportation will be cheaper.
Traveling across the pond is a good idea now because you can get lower rates. Searches by people all over the world for plane tickets to Britain surged on the day of the referendum and after, according to Liligo.com, a metasearch travel site. Discount airlines such as EasyJet, a British carrier, are likely to raise their prices because access to the single market of the EU has been the reason for keeping airfares low. The companies will eventually have to secure separate certificates from each country that their planes will fly to, and that would be expensive, resulting in higher prices. This means that traveling to other European destinations will cost more as well.
The English Premier League is arguably the most prestigious league in the world. Its top teams have the best soccer players. They stay in Britain because, among other things, they are paid very well. Brexit will result in some pay cuts due to the devaluation of the pound. This will make it much harder for clubs to sign players. There have already been reports that recruitment plans have been hit hard. Players whose contracts are ending soon can easily be persuaded to transfer to other respected leagues such as La Liga in Spain. Also, foreign players may be subjected to stricter immigration rules – the same as those for non-EU players – to obtain a work permit.
The weakening of the pound means that their goods will become cheaper for world markets. London has been known as a top shopping destination for years. Fashion retailers, however, may lose this title as Britain finalizes its divorce from the EU. Brands make a lot of their clothes in Europe. The likely trade tariffs with EU countries that are likely to be imposed when Britain is no longer in the single market will spike import costs. The consumers will probably have to make up for the loss.
Summer is here, which means England is full exciting festivals and events. But the best part - the majority of them are free! Attend the Festival of Love from July 9 to August 29, the Lambeth Country Show from July 16-17, the Archikids Festival from July 23-24, and the Alexandra Palace Summer Festival on July 23. Also, if you like electronic music, you will love the Electric Daisy Carnival UK. Don’t miss the Blissfields Festival and the Rustic Music and Arts Festival as well.
England is full of incredible gardens. Visit one of the most iconic gardens, the Sissinghurst Castle, and check out the Great Dixter and Chelsea Physic Garden. London is home to spectacular public green spaces, some of which include the 200 acre Royal Botanical Gardens in Kew, the Buckingham Palace Gardens, the Kensington Palace Gardens and the Hampton Court Palace Gardens.
Visiting Manchester? Don’t leave without checking out the National Football Museum. Also visit London for a variety of free museums, some of which include the Horniman Museum; an anthropological museum with an aquarium and a wide collection of musical instruments. Learn about history and science at the Science Museum, which contains seven floors of exciting exhibits, and the Natural History Museum, which has approximately 70 million plants, fossils, rocks and animal displays.
The best time to visit England is, literally, right now. The Wimbledon Lawn Tennis Championships are taking place until July 10. If you like cricket, see England v Sri Lanka’s one-day international, taking place on July 2. Attend the 2016 British Grand Prix on July 10 and the London Grand Prix from July 22-23.