The 21 holiday destinations where the pound goes further this year – with as much as £210 extra
HOLIDAYMAKERS will get more for their money in most popular destinations this year, thanks to the streng-thening pound.
New exchange rate analysis by Post Office Travel Money has found sterling has risen against 21 of the 25 best-selling holiday currencies in the last 12 months.
This means we will get 3.8 per cent extra when we change our pounds into euros and 5.5 per cent more when buying US dollars.
But Turkey is the standout destin-ation for value, where holidaymakers will get about 73 per cent more liras for their pounds than a year ago — equivalent to almost £211 extra when buying £500 worth of the currency.
Our pound has also gained almost 21 per cent against the Kenyan shilling and 15.7 per cent against the Japanese yen.
And while the dramatic fall of the Egyptian pound has bottomed out, it is still 6.3 per cent weaker than last March.
So visitors will now get around £234, or 88 per cent, more on a £500 currency transaction when compared to two years ago.
Sterling has also made sizeable gains against currencies for a trio of other popular destinations.
The pound is worth 12.7 per cent more in the Czech Republic, 9.9 per cent more in Thailand and 9.2 per cent more in South Africa.
Those visiting Australia will get 8.5 per cent more cash for their pounds.
Caribbean sun
Just four currencies have gained ground on the pound in the last year — the Polish zloty, Mexican peso, Costa Rican colon and Swiss franc.
Laura Plunkett, head of Travel Money at Post Office, said: “Sterling’s current buoyancy against most leading holiday currencies provides a great incentive for Britons considering trips abroad.
“Most currencies have weakened against the pound in the past year, and many of these are for destinations that traditionally offer the cheapest prices for meals, drinks and other tourist staples.”
The latest analysis of what currencies we are buying from the Post Office also gives an indication of the places we are choosing for our breaks.
Winter sun
And it seem we can not get enough of the Caribbean for winter sun.
Sales of the East Caribbean and Barbados dollars rocketed by 103 per cent and 64 per cent respectively in January, out-performing rival destinations in the Far East.
Over the past year, though, it is still Far East destinations that have seen the biggest growth as they opened up post-pandemic much later than other destinations.
Demand for the Chinese yuan grew by 573 per cent and the Japanese yen by 357 per cent.
And there was also significant growth in sales for Thailand and Vietnam.
While the euro and the dollar remain the most popular currencies bought, demand for aspirational, long-haul trips is high, with the Australian dollar rising to third in the Post Office best-sellers list and the New Zealand dollar to ninth.
CURRENCY RATE COMPARISONS AND SALES
EXTRA you get when buying £500 worth of currency:
- Turkish lira +72.9% £210.84
- Kenyan shilling+20.9% £86.40
- Japanese yen+15.7% £67.81
- Czech koruna +12.7% £56.20
- Thai baht+9.9% £44.97
- South African rand+9.2% £42.05
- Australian dollar+8.5% £39.26
- Hungarian forint+7.8% £36.14
- Jamaican dollar +7.5% £35.07
- Egyptian pound+6.3% £29.85
- New Zealand dollar +6.1% £28.69
- Norwegian krone+5.8% £27.49
- UAE dirham+5.5% £26.02
- East Caribbean dollar +5.5% £26.02
- Barbados dollar +5.5% £26.02
- US dollar +5.5% £26.02
- Singapore dollar +5.2% £24.52
- Swedish krona +4.1% £19.72
- Euro+3.8% £18.31
- Bulgarian lev +3.8% £18.20
BIGGEST currency sales growth, year on year:
- East Caribbean dollar +103%
- Barbados dollar +64%
- Japanese yen +38%
- Thai baht +36%
- Polish zloty +31%
- Vietnamese dong +25%
- UAE dirham +18%
- Czech koruna +14%
- Singapore dollar +10%
- Euro +9%
BEST-SELLING currencies (last year in brackets):
- Euro (1)
- US dollar (2)
- Australian dollar (3)
- Turkish lira (4)
- Canadian dollar (5)
- Thai baht (7)
- UAE dirham (6)
- Japanese yen (–)
- New Zealand dollar (8)
- South African rand (10)