British travelers visiting Europe this summer are being hit hard by the falling pound.
According to The Independent, the sterling fell to an eight-year low against the euro this week, dipping close to €1.08. The pound is also down against the U.S. dollar.
The currency's slide continues amid Brexit uncertainty that began with the U.K.'s vote to leave the European Union (EU) last year.
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The value of the pound has dropped below €1 at several airports, including London's Gatwick Airport.
Travelers swapping cash at Southampton Airport's Moneycorp branch are getting roughly 87 cents for every pound, according to The Independent. The rate is the worst since last decade's financial crisis.
For Britons, the reeling pound also adds to travel expenses in many parts of the continent where goods and services are priced in euros, raising the cost of hotel stays, meals and other purchases. The Guardian reports that the decrease in spending power has led some travelers to cancel their plans and opt for a staycation in the U.K.
Earlier this month, strategists at Morgan Stanley described the U.K.'s economic outlook as "bleak," predicting that the pound will continue to plummet as Britain inches toward an exit from the EU.
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While the weakened pound has created headaches for British travelers, it has made the U.K. a more affordable destination for international visitors.
The U.K. reported a record-setting first quarter for tourism in 2017, with inbound visits up 10 percent and spending up 16 percent over the first three months of the year.
"With the current exchange rate, Americans see value for money. It's a great time to visit the UK, and enjoy the benefits of how much further your dollar can take you," VisitBritain interim executive vice president Paul Gauger said in a statement earlier this year.
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