e-tid - Stronger sterling means more holiday spend

Stronger sterling means more holiday spend

01 Feb 2010
UK tourists will get more for their money this year in 13 of the top 20 best-selling currency destinations, according to the Post Office.
 
Some of the biggest gains will be for travellers to Egypt and Dubai, where currencies have fallen by almost 15% against sterling, compared with a year ago.

The Thai baht moved up to tenth place in the Post Office’s 20 best-selling currency list for 2009, one of seven destinations that recorded sizeable increases in currency sales.

Others included Turkey (+44%), Croatia (+17%) and South Africa (+12%), whose growth moved them up the table to third, 14th and 8th place respectively.

The euro remained the best-selling currency for 2009 and the US dollar second, according to the Post Office survey, which reviewed 2009 travel trends and identified ten hot currencies for 2010, based on exchange rate trends and events taking place during the year.

The Turkish lira was the third best-seller in 2009, up from fourth in 2008, followed by the Australian dollar, which was down from third, while the Canadian dollar remained in fifth.

Visitors to the US will get nearly 15% more for their money this year, as sterling springs back from its low in January 2009.

The weakening US dollar has also had a positive knock-on effect on destinations with currencies tied to it, in particular the Caribbean Islands.

Holidaymakers visiting Jamaica can expect to receive over 29% more for their money this year, while sterling will buy over 15% more Barbados dollars.

However, people travelling Down Under will get fewer Australian dollars (-14.8%) or New Zealand dollars (-16.6%), as sterling has slumped against both currencies.

Click here to see the full Post Office report (100KB pdf).

See also:
Cash is king for Brits overseas (28/01/2010)
VisitBritain banks on weak sterling (04/01/2010)
Savvy consumers tracking exchange rates (17/06/2009)
Sterling boost for late bookings (28/05/2009)
Middle Eastern and Turkish currency sales soar (02/04/2009)