Where will your pound go further in summer 2013?

TokyoBritish tourists heading abroad for their holidays will find the price of a local meal feels steeper than last year as the pound has lost value against 80% of global currencies in the past 12 months.
According to foreign exchange specialists Moneycorp, sterling is weaker against 38 of 50 global currencies compared with a year ago, and people travelling to Europe, or further afield to the States and Australia, may find their holiday money does not go as far as they hoped.

"The weak performance of sterling over the past 12 months means our summer pounds aren't going to stretch quite as far this year as they did last year," said Matthijs Boon, Moneycorp's director of travel money.

Moneycorp's Boon said British travellers could get more for their pound in countries where sterling has strengthened against local currencies, such as Argentina, South Africa and Brazil. However, he added: "Cheaper destination costs will need to be weighed up against the higher price of flights to get there, when compared to hopping on a plane over to mainland Europe."

However, there are still some far flung destinations where British holidaymakers' pounds will stretch further this summer compared to 12 months ago:

10 PHOTOS
The 10 countries that will offer the best value for your pound
See Gallery
Where will your pound go further in summer 2013?
The British pound has strengthened against the Japanese Yen by 14.8% compared to 12 months ago.
The pound is stronger than the Argentinian Peso by 11.7% compared to 12 months ago.
The British pound has strengthened against the South African Rand by 11.5% compared to 12 months ago.
The pound is stronger than the Jamaican Dollar by 8.9% compared to 12 months ago.
The British pound has strengthened against the Egyptian Pound by 8.6% compared to 12 months ago.
The pound is stronger than the Gambian Dalasi by 8.1% compared to 12 months ago.
The pound is stronger than the Brazilian Real by 3.3% than it was 12 months ago.
The British pound has strengthened against the Mauritius Rupee by 2.3% compared to 12 months ago.
The pound is stronger than the Russian Ruble by 1.7% than it was 12 months ago.
The British pound has strengthened against the Indonesian Rupiah by 1.4% compared to 12 months ago.
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE


For those intent on staying in Europe, the picture isn't helped by the cost of petrol. A recent report by the Post Office showed that motorists travelling to mainland Europe will find filling up with fuel a pricey business. The Post Office's Motoring on the Continent report showed that unleaded petrol prices have increased by 9p per litre over the past 12 months in Spain, and by 7p per litre in France, and as sterling remains weak the increases will be felt even more keenly for British travellers.


Moneycorp has the following advice for travellers to help their holiday money go that little bit further:
  • Don't use a credit card to withdraw money from an ATM abroad, you will pay the bank's exchange rate as well as a foreign exchange fee and an ATM fee. You will also owe interest on your withdrawal immediately.
  • Use a pre-paid currency card, such as Moneycorp's Explorer card, which you can load with money before you leave. You won't pay a foreign exchange fee when you withdraw cash from an ATM, and you'll also get a better exchange rate.
  • Avoid withdrawing from ATMs in shops as they are likely to charge a fee.
  • Take a combination of cash and cards to cover the first few days of your break. You may need cash for taxis or tipping in restaurants.
  • Order travel money online to get the best exchange rates. It can even be delivered to your home or a bureau de change at the airport you leave from.

5 PHOTOS
The five worst holiday disasters
See Gallery
Where will your pound go further in summer 2013?

If you are a victim of a strike, or any other event beyond the airline's control (including ash clouds!), they must offer you a refund (in which case it's up to you to find a way home) or an alternative flight. While you are waiting for the flight you have the right to food and refreshment and accommodation.

If you are on a package holiday, your tour operator is entirely responsible for looking after you until you get back to the UK.

This is more likely to happen due to the financial crisis, but in some situations you are covered. 

If you pay by credit card and it's over £100, you'll get a refund from the card company. 

Your travel insurance may well cover you too, but check before you go.  

Talk to the airline, and if it is temporarily misplaced they should arrange for it to be sent to your accommodation, and you should be either given cash to cover the essentials in the interim.

If it's completely lost you must wait 21 days and then make a claim for compensation. If you are travelling as part of a package you can claim costs from your operator.

If you are travelling within the EU you need an EHIC card, which gives you access to public healthcare. However, this won't necessarily be free, and if you need extra services such as accommodation for a carer, a helicopter home or a delayed flight, you could end up seriously out of pocket.

The only protection that will guarantee you will be looked after without running up a horrendous debt is by having travel insurance - which often covers up to £10 million of costs.

The most common form of theft is pick-pocketing, followed by theft from a car and bag snatching. Meanwhile, 752,000 of those surveyed had items stolen from their hotel room or villa.

If you have anything stolen, your only protection is insurance. You need to tell the local police immediately and get a crime reference for your travel insurer.

HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE


More stories
Read Full Story

FROM OUR PARTNERS