BY RUTH EMERY
Three years on from the UK’s first lockdown, many holidaymakers are gearing up to travel abroad again. But where can British travellers get the most for their money?
If you’re looking to save money on your holiday, then there’s good news for anyone planning to travel abroad this year. British holidaymakers now enjoy a better exchange rate in five out of six of the most popular foreign holiday destinations compared to three years ago.
According to analysis by travel money specialist No1 Currency the pound has strengthened considerably against the Argentine peso, Turkish lira, Egyptian pound and Sri Lankan rupee since 2020, meaning British tourists will find their money goes a lot further when visiting those countries.
Anyone going to Argentina will enjoy the biggest boost, with sterling more than trebling in value against the peso (up 234.6%), while those flying to Turkey will also get a much better exchange rate (the pound is up 205.8% against the lira).
Travellers going to the States or countries that use the euro, like France, Spain or Greece, will also receive a better – albeit more modest – exchange rate compared to March 2020.
The pound has risen by 5.4% against the euro since the UK’s first lockdown, and by 6.4% against the US dollar.
At the other end of the scale, sterling has shed a tenth of its value (down 9.3%) against the Australian dollar, meaning it’ll be more expensive for British tourists to go shopping, pay for meals in restaurants or grab an iced coffee. Sterling also buys nearly a fifth fewer Mexican pesos (down 18.9%) than it did in March 2020.
Simon Phillips, managing director of No1 Currency, comments: “No-one will be celebrating the anniversary of Britain’s first lockdown, but three years on from our national confinement, the pound’s rising value offers a bright spot for anyone planning a summer getaway.
“The pound in your pocket now goes further in the vast majority of the countries typically visited by British tourists. For example, the pound has doubled in value on Egypt’s popular Red Sea coast and in Sri Lanka, which offers palm-fringed beaches and year-round warmth.”
Kenya, Japan, Mauritius, Colombia, Hungary and Jamaica make up the rest of the top 10 holiday hotspots, where the currencies have fallen the most against the pound.