This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.
It’s official: the British pound has become 2016’s worst performer against the US dollar. As a result of Brexit — which sounds more like a weird name for a Hollywood couple breakup rather than a historic nationalist referendum with serious global ramifications — the world is still struggling to figure out what this means for the UK, EU and other major global economies. While the aftershocks will surely be felt for years, the initial blow had markets plummeting and the British pound tumbling to historic lows against the dollar. No one is enjoying watching this slow motion car crash — but opportunists with dollars in their pockets can take advantage of the best exchange rate in decades.
Let’s look at some expenses you might have during a long weekend in London — a round-trip flight in economy on British Airways, a four-night stay at The Great Northern Hotel, round-trip Black Cab taxi fare between Heathrow Airport (LHR) and the hotel and a ticket to see The Book of Mormon in London’s West End (because, why not?). Below, we’ve compared what these four activities cost today with what they would have cost previously, by pricing them out based on the exchange rates from past years — note that The Book of Mormon didn’t technically debut in London until 2013, but we’re including what the price would have been back then for comparison’s sake.
|Expense||Jan 2008||Jan 2010||Jan 2012||Jan 2015||Jan 2016||July 2016|
|Round-trip Airfare JFK-LHR||$1,276||$1,039||$1,008||$1,003||$952||$834|
|4 Nights at The Great Northern Hotel||$1,677||$1,365||$1,324||$1,318||$1,250||$1,096|
|Black Cab Taxi Rides (Airport-Hotel)||$396||$323||$313||$312||$296||$259|
|1 Ticket to see The Book of Mormon||$248||$202||$196||$195||$185||$162|
As you can see, the expenses (measured here in US dollars) from this trip have dropped significantly, costing you 12% less that it would have at the beginning of this year, 17% less than in January of 2012 and 35% less than in January of 2008.
Of course, there are other ways to cut costs — you could use the AARP discount when booking a British Airways flight, book with the Citi Prestige to take advantage of its 4th night free benefit at the Great Northern Hotel, buy a seven-day Travelcard tube pass ($42 per adult, $21 per child) instead of using Black Cabs to get around town or sit up in the nosebleeds at The Book of Mormon. But our main point is this: travel to the UK is cheaper that it has been in a long, long time. So if you’ve been waiting for the right opportunity to visit our friends across the pond, that time is now.
Featured image courtesy of Shutterstock.
With great travel benefits, 2x points on travel & dining and a 50,000 point sign up bonus, the Chase Sapphire Preferred is a great card for those looking to get into the points and miles game. Here are the top 5 reasons it should be in your wallet, or read our definitive review for more details.
- Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
- No foreign transaction fees
- 1:1 point transfer to leading airline and hotel loyalty programs
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
- No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards