Bargain-hunting holidaymakers head East for best-value trips
The currencies of Thailand, Vietnam, Indonesia and Malaysia are now among the top ten with the biggest growth in demand, Post Office Travel Money revealed.
With the pound reaching an eight-year low against the euro, many travellers are heading east to take advantage of better exchange rates and lower costs for accommodation and meals.
Thai baht sales between June and August surged 69 per cent compared with the same period last year. The Vietnamese dong was up 29 per cent year-on-year, while sales of the Indonesian rupiah and the Malaysian ringgit increased by 13 per cent and seven per cent respectively
But none of the South East Asian currencies could match the performance of the New Zealand dollar, which saw a 124 per cent rise in demand.
Andrew Brown of Post Office Travel Money said: “Looking to the autumn and winter, there is every reason to expect that UK tourists will head east for long-haul holidays.
“Savvy travellers know prices in Thailand, Bali, Vietnam and Malaysia are cheap and in times when the value of sterling is uncertain, low resort costs are a really big draw.”
Long-haul destinations dominate the Fastest Growing Currencies chart, taking eight of the top 10 places. Among other top 10 destinations whose currencies have seen a growth spurt are Canada, where an eight per cent rise in Canadian dollar sales can be laid at the door of the country’s 150th anniversary celebrations, and Dubai – where an 11 per cent rise means summer sales of the UAE dirham more than doubled in five years.
In, Europe Croatia proved to be the year’s big winner in another record year for the destination. Currency sales grew by a third to take the Croatian kuna to third place.
Meanwhile, the Polish zloty is the only other European currency to feature in both the Fastest Growing Currencies summer and year-to-date top ten charts – with an 11 per cent rise for June-August.
Warsaw recently rated second only to Prague for value in the Post Office’s annual Cost of Culture report while Krakow was sixth cheapest in the City Costs Barometer of 36 European cities earlier in the year. .
Mr Brown added: “This year’s currency sales have made it clear holidaymakers are choosing destinations abroad where prices for tourist staples are low. Autumn is peak season for city breaks and we expect Poland’s cities to be among a number of Eastern European capitals that will appeal to UK tourists breaks in low-cost destinations.”