The credit crunch has led many of us to put our annual stint in the sun on the back burner, but with the current strength of the pound, a holiday may not be as expensive as you think.
This week the pound hit a 22-month high against the euro, with the current exchange rate now 10 per cent higher than a year ago. This means that a family with exchanging £500 will get £50 extra to play with.
“It’s good news for Britons buying currency ahead of a trip to the euro zone,” said a spokesman for foreign exchange company Travelex.
“Weeks of speculation over the future of the euro, Spain’s economic crisis, and the political uncertainty in France and the Netherlands, have seen the value of the euro fall to a level not seen for years.”
Traveller hotspots in the EU such as Spain, France and Portugal may see an influx of UK tourists as a result of the £1: €1.20 exchange rate.
Holidays outside of the euro zone could also help UK holidaymakers cash in more from their funds, as the pound has risen 14 per cent against the Turkish lira.
Eastern Europe is also a cash savvy bet for British travellers as the pound has risen by 16 per cent against the Polish zloty, by 12 per cent against the Croatian kuna, and by nearly a tenth against the Bulgarian lev.
But if you’re planning a trip a little further afield this year, there’s good news on that front too. The pound is also up against the American dollar, with £100 buying you $160 – compared to $142 in May 2010.
So even with hikes in APD pushing up the price of flights, savings can be made. It has also been revealed that many tour operators are slashing the price of holiday packages.
According to research by a leading travel website, breaks over the Jubilee weekend have been reduced by 60 per cent. So get that holiday booked while prices are low!
(Image: lele3100)
