According to Post Office Travel Money, fluctuations in the value of the pound so far in 2019 have not deterred UK travellers from enjoying foreign holidays. In fact, long haul destinations seem relatively unaffected by the recent economic uncertainty, with winter sun and exotic destinations continuing to prove popular.
Largely due to the Rugby World Cup, Japan has seen a rise in popularity, with the Japanese Yen registering a 42% uplift in sales over the last year.
The Trinidad & Tobago dollar has likewise seen an increase in sales of some 53% year-on-year in 2019 – even without a major sporting event to boost figures – and have accelerated by a massive 205% in September, emphasising that Caribbean holidays are enjoying an upsurge in being the customer’s choice for winter sun destinations.
While falling resort prices may help to explain the popularity of the Caribbean, consumer research by the Post Office found that 77% of holidaymakers were more concerned at rising costs once at the resort. However, according to the Long Haul Beach Barometer provided by long haul holiday operator, Travelbag, prices in nine of the 16 resorts surveyed have fallen.
Looking at several sunshine resorts, in popular destinations such as East Asia, South America, Africa and the Caribbean, there’s a large difference in the prices holidaymakers can expect to pay for a standardised set of products. For example, according to the Post Office Travel Money figures, a cup of filter coffee in a café or bar would set you back £3.07, £3.35 or £3.74, in Jamaica, Barbados and the Seychelles respectively. On the other hand, that same cup of coffee will cost just £1.63 in Thailand or £1.65 in Sri Lanka and Costa Rica.
While we all may enjoy a drink or two on holiday, there’s a similarly big disparity for both soft and alcoholic drinks in the resorts surveyed. A can or bottle of Coca-Cola ordered in the Seychelles is, at £4.05, high enough to raise eyebrows rather than a toast, while a glass of wine or a cocktail ordered in Dubai will set you back £10.61. Perhaps the most universal benchmark for any holiday cost is the cost of a three course evening meal for two adults and a bottle of the house wine. This will cost you £40.96 in Bali, but a much more expensive £118.23 in Barbados – certainly enough to have you choking on your after-dinner mint.
Nick Boden, Post Office Head of Travel Money, commented: “Holidaymakers are now recognising that it is not just exchange rates that affect how far their holiday budget will stretch. Sterling may have weakened against many currencies but only 55 per cent of holidaymakers told us that this is a big issue for them. Far more of them – over three-quarters according to our latest research – are worried about the prices they will face in resorts, so it is understandable that they are picking destinations where the cost of meals, drinks and other staples is lower.”
Holidaymakers can certainly save themselves some money by shopping around for the best deals on both travel money and insurance.
Moneyfacts.co.uk has partnered with the UK’s No.1 travel money provider, the Post Office, to provide you with a free and easy way to compare the best travel money deals online. Our travel money guide will not only show you where to get your holiday money, but also the best way to take money abroad.
Travelling abroad without proper insurance is never a good idea. While we all go on holiday for some much-needed rest and relaxation, this can be ruined by unexpected events. While having your wallet or bag stolen on the beach, encountering unexpected delays at the airport or having to receive medical care while abroad are certainly not what anyone wants, it can certainly make these less painful knowing that you have the appropriate travel insurance cover in place to help.
With our guide to the best travel insurance 2019 we have identified the best five-star rated travel insurance providers. Here you can check out the coverage you and your family can enjoy, as well as take advantage of our easy to understand guide to travel insurance.
Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.