Beat the credit crunch this summer by choosing the right destination
Those looking to find a great value holiday with a bit of adventure this year should definitely consider Iceland, as their money will now stretch more than 40% further than last summer. This is due to the collapse to the Icelandic krona, which has resulted in this holiday spot reaching the top of the annual Post Office Travel Services’ Best Value Holiday Destinations report.
Another top value holiday destination is Poland, with the pound now worth around 19% more than that seen last year, making it a great option to make your money go further.
Hungary joins Poland and Iceland as the only countries in Europe now offering more for the pound than the previous year.However, the pound has fallen in value by under 3% in a number of other destinations.
For example, there are some great bargains to be had when traveling to the Czech Republic and Turkey, as rated by the Post Office’s Holiday Costs Barometer survey of tourist staples as one of the top destinations for 2009.
Turkey is fast becoming this year's top UK holiday choice – with a 60% year-on-year increase in Post Office currency sales based on data taken from the last 5 weeks.
Holidaymakers that wish to travel further afield may want to consider Jamaica and Kenya, currently rating as top contenders for tourists as sterling is currently matching the value against these currencies from 2008. Impressive discounts on holiday packages could be the reason behind sales of Kenyan shillings which were up 97% in May and both destinations fall in Top 10 Fastest Growing Currencies at the Post Office.
However, several counties that were among the top 10 countries from last year’s Best Value Destinations have since fallen to the bottom of the table.For example, the USA fell from 4th place to 17th as a result of the dollar now being worth 20% more than this time last year. This is a similar scenario across several other ‘dollar destinations’, which include Dubai, Hong Kong and the East Caribbean, all of which are also ranked lower as these countries currencies are affected by the the dollar.
Despite this, data gathered from currency sales indicate that some of these destinations are still in demand – with the East Caribbean dollar for destinations which include St. Lucia and Antigua are second to Kenya in the Post Office Fastest Growing Currencies table.
Sarah Munro, Post Office head of travel services said: “Our spending power may not be what it was last year but when you look back to 2002 - when trips to the USA were as popular as they have been recently - it is clear that a similar rate, around US$1.43 to £1m, did not deter UK holidaymakers from crossing the pond.”
“Holidaymakers looking for best value should choose destinations where they can get more for their pounds. These include Iceland,which has been expensive to visit in the past, as well as Turkey and Kenya, rated as best buys in our cost of living surveys. But they should not waste these savings by buying currency at the airport, where they will pay commission and get a poor rate.”
UK Price Comparison website Which4U – Compare Credit Cards, Savings Accounts, Fixed Rate Bonds, Bank Accounts, ISAs, Loans, Mortgages, Insurance, TV & Broadband and Gas/Electric bills to find the best UK deals
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