Wednesday, 16 May 2012

Britons enjoying up to 25% off summer holidays.

Britons enjoying up to 25% off summer holidays in the sun compared to last year thanks to strong pound.

Someone travelling to Rio will get 24.5% more this year whilst Tourists heading to Spanish or French resorts can expect 10.5% more spending power due to Euro crisis.

The Euro crisis has delivered a bonus for British holidaymakers who can expect 10.5 per cent more spending power on the Spanish islands or French resorts.

For every £500 converted to euros, a family will get an extra £47.41 this year compared to the summer of 2011.

That means more ice creams for the children, a glass of wine or two more with meals or entry to an attraction or theme park.

For those travelling further afield, the relative strength of sterling against other currencies will deliver an even bigger increase in spending power.

For example, someone travelling to Rio in Brazil will get 24.5 per cent more for their money this year, or around an extra £86 for every £500 that is converted to the local currency, the real.

Similarly, the pound will buy 15.7 per cent more Mexican pesos, delivering extra spending power to the many Britons who holiday in Cancun or the Riviera Maya. Visitors to South Africa will get 16.7 per cent more for their money this year.

While holidays in the Euro zone will be relatively cheaper in terms of daily spending, the strength of the pound against other European currencies has been even more marked.

For example, the pound is now some 23 per cent stronger against the Polish zloty than the summer of 2011, while it is 20.8 per cent stronger against the Hungarian forint.

Money will also go further this year in Turkey and Croatia.


The figures, which have been collated by Post Office Travel Money, will encourage many families to make their summer holiday choices based on where they can best value.

At the same time, many may decide to buy their summer spending money now to take advantage of the good rates. The Post Office research shows the pound has made gains against 24 of 30 leading holiday currencies over the past year.

Compared to a year ago, the pound is down by 0.7 per cent against the dollar, 1 per cent against the Barbados dollar, 1.1 per cent against the Vietnamese dong, 1.8 per cent against the UAE dirham and 4.1 per cent against the Kenyan shilling.

Post Office Head of Travel Money, Andrew Brown, said: ‘Although the increasing value of sterling against the euro has dominated the headlines, there are very few places where the pound is not packing a stronger punch this year.

'Our advice is for people to keep a close eye on exchange rates for all the destinations they are considering so they can judge where they will get the best return on their money.'

He added: ‘There are signs that the power of the pound is making people increasingly savvy both about their choice of destination and their spending habits.’

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