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 Strength of sterling good news for holidaymakers

Strength of sterling good news for holidaymakers
10 Jan 2014

After a difficult few years, sterling's renewed strength against a variety of international currencies is great news for those booking holidays abroad in 2014.

According to the Post Office Travel Money 'Holiday Money Report',  prices have fallen for Brits in 70% of the 44 destinations surveyed by the Post Office for the annual report's 'Worldwide Holiday Costs Barometer'. 

Falling in-resort prices in combination with sterling's resurgence have seen costs tumble by as much as 32% in Jamaica, Japan and the Gambia.

However, Bali emerged as the best value destination overall thanks to a slump in the value of the Indonesian rupiah, while Portugal's Algarve region is the cheapest in Europe. This is a result of prices having fallen by 18%, as sterling is actually down 1.9% on the euro year-on-year. 

Places where sterling have made significant gains include South Africa, where UK holidaymakers are currently getting almost 28% more rand for their pounds than a year ago. Not only that, but a 17% drop in prices year-on-year place Cape Town inside the top ten destinations for value in the Worldwide Holiday Costs Barometer.

Closer to home, the Turkish lira has hit a five-year low, helping Turkey’s leading resort, Marmaris to match the Algarve for Europe's biggest price fall.

In order to take advantage, Paul Havenhand, head of travel at the Post Office, advised holidaymakers to use the report as a travel guide.

'Holidaymakers will be spoilt for choice this year with better value-for-money in most destinations worldwide,' he said. 

'To cash in on this, UK tourists should do their homework before booking to find out where the pound is worth most and where resort costs are low.'

Based on growth in currency sales, Post Office Travel Money also tipped Burma, Qatar and the Philippines as the emerging destinations to watch. In Europe, Croatia is one of the ten Post Office Holiday Hotspots for 2014, following a doubling of kuna sales in the past two years.ADNFCR-408-ID-801680831-ADNFCR

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