Brexit Beer Index shows increased cost of drinking abroad

Drawn out Brexit negotiations have seen the pound weaken significantly against many currencies around the world, making food and drink more expensive when we go on holiday. Our latest Caxton Brexit Beer Index reveals that the average cost of a pint of beer has gone up 16% for British holidaymakers.

Brexit’s impact on the pound

Since the UK voted to leave the EU in June 2016, the value of the pound has dropped considerably due to a combination of business uncertainty and lack of confidence during the extended Brexit negotiations. That means the cost of many goods and services have been impacted, but perhaps the one thing that irks many brits the most is the extra travel money they must now pay when on holiday outside the UK.

Holidaymakers have noticed the impact on their restaurant and bar bills, whether they visited European holiday hotspots or more exotic locations further afield this summer. The average cost of a pint of beer is a good indicator to see how much more we now have to pay.

How much does Beer cost overseas now?

The cost of a pint of beer in all the countries we reviewed has increased by an average of 16% since the Brexit vote in June 2016.

In one of Britain’s favourite destinations, visitors to the USA have seen the cost of a beer rocket by a fifth since the vote, with a typical beer now priced at £4.18 – up over 20% in a little over 3 years.

A beer in Thailand may only cost the equivalent of £2.25, but that’s an increase of 38% on exchange rate difference alone from the £1.63 in 2016.

If you’re heading to Scandinavia and the Nordic region, be prepared for some eye watering beer prices with Norway up 9% to £7.66, and Iceland up almost 16% to £7.07 – it’s enough to make you go teetotal!

One of the cheapest countries for a beer is the Czech Republic at £1.30, but that’s still over 22% more than the bargain £1.06 in June 2016.

Oktoberfest in Munich begins on 21st September. The sixteen-day beer festival and travelling funfair is like no other, but the tables loaded with steins will set UK drinkers back an extra 16% compared with when the Brexit bargaining began.

The irony is that as the never-ending Brexit shambles drives some of us to drink, the cost of a drink continually increases. Perhaps it’s time to take up meditation instead!

Increased cost of a beer since Brexit