British bargain hunters are rejoicing as the sterling has dipped in value against most European currencies, leading to long-haul travel decreasing in price, according to a survey.
The latest Post Office Money report has revealed that British families can now enjoy more bang for their buck while travelling overseas due to the value of sterling falling against the euro.
Brits getting more bang for their buck
Andrew Brown, from the Post Office Travel money, explained that while holidaymakers visiting Europe will still get more than £42 extra to spend if they change £500 – this same outlay can give them even more cash in their pockets when travelling to further afield resorts.
Sterling was found to have the largest gain against the Brazilian real – which lost more than 25% of its value during the last three months and over 58% year-on-year; ultimately meaning that British holidaymakers taking a trip to Rio will gain £185 more on their £500 currency purchase than 12 months ago.
Meanwhile savvy Brits will also be quid’s-in when they holiday in the likes of Malaysia where sterling has increased 25% year-on-year. Since July 2015 along the ringgit has decreased by 10% meaning that UK tourists can benefit from around £100 more in their pocket than a year ago when changing £500.
The trend continues across the world
This trend has also stretched across to Kenya where the pound has surged 11% against the Kenyan shilling over the last year, meaning Brits can benefit from an additional £50 in their wallets after exchanging £500. Add this to the 9% drop in prices that holidaymakers can expect to see in the country, they can look forward to paying 20% less once they get to the sandy beach in Mombasa.
Mexico’s Cancun, which has long been a hot-spot for British bargain hunting families, can expect to see an 18.5% fall in the value of the Mexican peso, so half-term holidaymakers can anticipate seeing an additional £78.
However, those Brits planning a Christmas getaway to the likes of Australia will reap the benefits of a stronger pound, with sterling increasing by 17% - leading to an extra £73 when changing £500 into Australian dollars.
Will you be looking for the next beach bargain? Don’t forget your budget travel insurance.
Date Created: 26/10/2015