Going on a Winter Break? - Time to Save Money on Your Travel Money
If you’re thinking of a winter trip abroad, recent developments in the foreign exchange markets might make it a better bet to take a short break in Europe instead of the US. Last week The Guardian reported that the weakening pound will, along with retailers and airlines, cause prospective holiday makers to be more selective with their destinations than they may have been a year ago.
It seems that trips to the US are the least appealing at the moment with the Pound currently being worth a measly $1.54 - a kind of rate that hasn’t been seen for five years. This means that since last year alone the pound has declined 22.33%.
Today, many European destinations seem far more enticing to the British traveller despite the Pound still losing its might quite significantly. Euro countries such as Germany and France are looking favourable because the pound has declined by half as much as it has compared to the dollar, about 12%. And of course once you’ve factored in possible air travel increases, a train ride to Paris seems awfully romantic.
If you are still eager to travel further afield, the respective Krona of either Norway and Sweden may be worth considering a visit. Norway is famed for price and its increasing strength due to its exportation of oil. But despite the tumultuous markets of the moment, the relationship between the Pound and the Norwegian Krona has actually remained quite stable over the last year with an increase of 0.397 per cent. Similarly, the Pound compared to the Swedish Krona hasn’t changed too much either - with a fall of under 4%.
Though, if you’re interested in travelling even further this winter, some countries that the Pound has actually increased over the last year include India, where the Rupee is taking quite a battering as I write this. Additionally, the strangeness of today’s markets can be seen with the Pound’s continued strength against the Australian dollar (up almost 13%).
By factoring in travel money, foreign currency and travel costs too, the Eiffel Tower looks more tempting than ever.
David_John_Martin
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