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There is growing demand for tropical travel among UK holidaymakers, that’s if the latest Post Office Travel Money report I anything to go by.
Sales of Costa Rican currency, the colon, have risen by 84% in the last year, according to the Post Office Travel Money’s Fastest Growing Currencies report for June-August.
The success of Costa Rica is largely due to the introduction of direct flights from the UK, meaning the low-priced beach resorts have become easier to reach.
The strong performance of the country this summer is part of a wider growth trend, according to Post Office Travel Money, which is responsible for a quarter of all UK currency transactions.
The colon is just one of four Latin-American currencies that are breaking Post Office records in 2016, with demand for the Brazilian real also up due to the Olympics in Rio.
Sales of real increased by 70% year-on-year which means it managed to claim second place in the Fastest Growing Currencies chart, rising by 41% from the beginning of the year to this point.
Peru is also set to welcome a lot of travellers hunting for sun this winter – another destination now offered via UK airlines – as sales of the Peruvian sol have risen by 19% on top of last year’s 27% annual growth.
According to Christopher Dewe, Head of Post Office Travel Money, the increase in demand for countries like Costa Rica, Peru and Brazil shows that more and more UK tourists are prepared to travel a long way for their holiday.
Mr Dewe also believes that the results are further evidence that people are gradually becoming savvier about their holiday destinations.
After coming out on top in the 2015 summer growth chart, it seems that demand for destinations ‘down under’ has dropped, although, the decrease is unsurprising given that sterling is down in value against both the Australian and New Zealand dollar.
If you’re thinking of travelling abroad this year, be sure to organise your long-haul travel insurance in advance
Date Created: 06/09/2016