Currency

The pound fell to its lowest level in 30 years, while the FTSE 250 was on track for its worst decline ever as the markets reacted to the referendum news. Ahead of the referendum there was already a 300% spike in holidaymakers exchanging money to guarantee good rates, according to travel money specialist FairFx. At press time, the pound had fallen to 1.33 against the dollar and 1.25 against the euro, meaning in the short term at least, the expectation is that Brits will get less for their money abroad.

But the Association of British Travel Agents (Abta) says that while spending power will be affected, holidaymakers due to travel this summer will see little immediate change to their holiday. “Once the UK formally notifies the EU of its intention to leave, the remaining member states will have up to two years to offer the UK a deal for a future trading relationship and during this period holidaymakers will not see any immediate changes.” Read the full Abta statement and its Brexit Q&A here.

Flights

The cost of flights from the UK to EU countries has plummeted as a result of its membership, which is why Brexit has been opposed by airlines including easyJet and Ryanair. As Abta points out, it was EU regulations that opened up the flight market, increasing competition and ultimately leading to cheaper flights to more destinations. These regulations could be at risk. Andrew Swaffield, chief executive of the budget airline Monarch said: “An exit would most likely lead to higher air fares and fewer scheduled flights between the EU and the UK.” Meanwhile, passenger rights regarding compensation across all modes of travel, but particularly regarding delays in air travel, would be removed from the UK’s statute book unless the government chose to replicate them in UK law. While there is unlikely to be an immediate impact on flight prices and compensation law, this will depend on how the government chooses to negotiate the terms of the UK’s relationship with the EU.

Healthcare

Currently the European Health Insurance Card is available to all EU residents, a scheme which means Brits are guaranteed access to local health services on the same terms as locals. Again, this will need to be renegotiated. If the UK leaves this scheme travel insurance premiums will inevitably increase.

Visas

New travel requirements for UK citizens visiting EU countries will need to be negotiated. If visas are required, this could make travel far more costly and lengthy than has previously been enjoyed by British holidaymakers.

Communication

Cheaper mobile roaming charges across EU countries is something that has been introduced by the EU and will be extended to a complete ban on additional roaming fees in April 2017. According to Abta, these rules will be removed now that Britain has left the EU, unless the UK government acts to keep the regulations on the statute book.

Security

Experts in the travel sector have pointed out that security for travellers in Europe depends on the cooperation of the EU member states. Peter Long, former boss of the Tui travel group, which owns Thomson and First Choice, said that the terrorist attack at a resort in Tunisia in 2015 was a prime example of how European governments can “collaborate and work together in a crisis”. Cooperation between EU states was described as vital to protect the security of holidaymakers. “It would not be like that if we weren’t in a situation where we were as Europe working together,” he wrote in an open letter to the Sunday Times.