Will 2013’s Exchange Rates Affect Where You Go On Holiday?

Will 2013's Exchange Rates Affect Where You Go On Holiday?

by David Tamplin on 24 Mar, 2014

With many of us still watching our wallets, the exchange rate of a destination can make or break a holiday, and some of us have given up on going abroad altogether and are holidaying at home. However, a recent report from Teletext Holidays has outlined some of the facts and figures that can help travellers to choose a destination where their money goes further, as well as avoiding the places where they’ll be bled dry by the exchange rate before they’ve even set foot in their hotel.

Split into four parts, the report goes into detail on the latest information about prices abroad – including the cost of a cup of coffee or a bottle of sun cream in 42 places around the globe – and sheds some light on how some of the statistics can misrepresent the true cost of holidaying in a given country.

Will 2013's Exchange Rates Affect Where You Go On Holiday?Overall, Spain and Sri Lanka were rated top going on the price of everyday goods alone, although the Czech Republic, Bulgaria, Portugal and Hungary all rank highly on the value scale too. Exchange rate movements such as the strength of the British pound against the Egyptian pound has also helped the latter become 20 per cent more affordable in the last 12 months.

Additionally, the research provides recommendations on cheaper alternatives to some of the most popular destinations: for instance, the French city of Lille makes a formidable stand-in for Paris for those living on a budget, while Lisbon is a great alternative to Barcelona that’s easier on the wallet.

The report also provides some general advice on how to keep an eye on your cash while you’re abroad, whichever country you’re holidaying in. Whether it’s using prepaid cards, buying travel money in lump sums with friends and family or simply avoiding airport exchange bureaus, there are all sorts of ways to put a few more pounds (or euros) in your pocket.

“While newly-reported statistics about exchange rates do not make for the most positive headlines, it’s still easier than ever to get a great deal on your chosen break and work around this issue,” said Mark Bloxham, marketing director at Teletext Holidays. “We’re here to separate facts from misinterpretation, while also providing some handy alternatives to popular destinations.

“Your money should work for you, not against you; sadly, a lot of people overlook the simple ways that you can have a great holiday – or one that’s better than what you had planned – and for a lot less!”

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About the Author

David Tamplin

David Tamplin has been writing for Uk Money Market for 3 years and is the current editor of the site. He has an insurance background and achieved his ACII professional insurance exams in 1993.