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Today’s cash conscious consumers are always keen to get the most from their money. And one area where Brits are determined to get more bang for their buck is their annual holidays.
Now the latest survey from Post Office Travel Money, which is based on currency sales, has revealed that UK holidaymakers are making a beeline for destinations across the globe where the pound is the strongest against local currencies.
Brazil, Vietnam and Hungary emerged as the destinations that tick the boxes for holidaying Brits when it comes to a healthy sterling/local currency exchange.
Figures from the survey showed that the World Cup in Brazil helped drive up sales of the Brazilian real by 215% in June-August, when compared to the same period last year.
An upward trend was also recorded in sales of the Vietnamese dong (up 33%) and the Hungarian forint (up 21%). Other destinations where Brits were happy to splash their cash this summer included Trinidad and Tobago (up 21%), Jamaica (up 19%), Croatia (up 13%) and the USA (up 12%).
Commenting on the figures, a spokesman for the Post Office's currency service said: "In a tough year for the travel industry, it may be no coincidence that destinations which made the biggest currency sales gains during the summer –among them Jamaica, the US and Hungary – have also seen a surge in sterling's value.
"This suggests holidaymakers are becoming increasingly canny and doing their homework to see where exchange rates are favourable and living costs are low as well before booking."
He also went on to forecast destination trends for the coming months, saying: "Looking ahead, sterling's continuing strength suggests that European short breaks could be popular this autumn – particularly to cities like Budapest with a reputation for value.
"We also expect strong demand for great value south-east Asian destinations like Vietnam and Thailand."
Date Created: 09/09/2014