Each year the Post Office releases an annual holiday money report which looks at the cost of eight specific items in 40 different holiday destinations. The aim of this report is to show which country offers the best value for money. The items compared include the cost of a restaurant 3 course meal for two adults including a bottle of house wine, a cup of coffee, a local beer, a bottle of coke, a 1.5l bottle of mineral water, suncream, insect repellent and cigarettes.
The Post Office Holiday Money report results revealed that Sri Lanka and Spain are the most value for money holiday destinations with prices in Spain now a whopping 40% lower than they were in this country five years ago. Within the report it states that the cost of the eight items was less than £38.00 in Spain whereas in Turkey and Egypt two countries deemed as incredibly cheap the eight items cost £60 in Turkey (17th position) and £70 in Egypt (20th position). Egypt has already suffered from a decline in the number of British holiday makers travelling to the country because of the recent civil unrest. Higher spending costs are likely to reduce the number of tourists further.
Surprisingly Portugal was another value for money destination coming seventh in the Post Office report with the eight items costing a mere £45.
With the Euros recent slump and some phenomenal booking deals available online, holidays within the Eurozone have become far more affordable. The pound has also made recent gains against a number of other currencies including the Hungarian Forint (HUF), the Czech Koruna (CZK) and the Polish Zloty (PLN). This has been beneficial to those travellers planning a weekend city break to Budapest, Prague and Warsaw. The value of the British pound against the Forint and the Zloty has increased by 12%, and 5% against the Koruna in the past year.
Sri Lanka, Mexico, Thailand and South Africa were the cheapest long haul destinations.
Best value for money tourist holiday destination
1. Sri Lanka £27.95
2. Spain £37.72
3. Czech republic £39.72
4. Bulgaria £39.65
5. Mexico £44.03
6. Hungary £45.57
7. Portugal £45.58
8. Thailand £46.15
9. South Africa £47.62
10. Vietnam £50.71
Worst Value for money tourist holiday destinations
1. Australia £115.69
2. Barbados £113.18
3. Singapore £113.03
4. New Zealand £108.29
5. Costa Rica £108.07
6. Canada £107.02
7. China £106.34
8. USA (Miami) £104.55
9. Brazil £92.74
10. Mauritius £91.97
If you are planning a holiday soon make sure that you get the best exchange rate on your holiday money. At Compare Currency we have compiled a comparison table of the UK’s leading travel money providers including the Post Office, Thomas Cook, Travelex and M&S. You can easily compare their exchange rates side by side and find the best travel money deal and order your foreign currency online. Visit the travel money comparison table now.
