United Kingdom
How much can you save travelling now to
Hotel
January 2023
Room in 5-star hotel costs from €333, which in Nov 2021 was €316.
You can save on your hotel costs:
+5,4%
Food
January 2023
2 dinners, 2 beer, 2-litres Coca Cola costs €91, which in Nov 2021 was €88. You can save on food costs:
+3,4%
Shopping
January 2023
Cinema ticket, Zara dress, Levi's jeans, Nike sneakers and iPhone 12 costs €1134, which in Nov 2021 was €1351. You can save on shopping:
-16,1%
Why the United Kingdom is cheaper now?
The British pound has faced the lowest levels for 2,5 years on the fears of no-deal Brexit. After Boris Johnson was elected for the position of Prime Minister and declared that Brexit would happen either with or without deal, British currency fell dramatically.
Investors see less need in pound in future, probably because London would lose its importance as global financial center. Due to the fact that Britain imports more than exports, the effect of pound drop will be very negative for the economy.
After the decision made, it has brought some clarity to investors. But during the pandemic GBP has grown back on the hopes of faster economical increase in comparison with EU.
Pound Sterling has lost more than 1% in comparison with Euro and lost more than 16% with USD.
Inflation rate is 10,1% and EU inflation is 9.1%.
Tickets
There are plenty of cheap tickets to the UK from other European countries. The cheapest tickets in January are:
15€ from Dublin
16€ from Milan
18€ from Katowice
18€ from Malaga
The BigMac Index by The Economist suggests that The British Pound is 14% undervalued if we look at the Raw Index. And is 6% undervalued using GDP-adjusted methodology.