Holidaymakers on winter breaks could see spending money go further, says index

Holidaymakers planning a winter trip abroad could see their spending money stretch further than a year ago, analysis has found.

Those visiting winter sun hotspots or overseas Christmas markets could find their spending power is boosted – as Post Office Travel Money said sterling is worth more than a year ago against more than 80% of its 40 best-selling holiday currencies.

The pound has strengthened against European currencies including the euro compared with a year ago, the holiday money index found.

• Turkish lira

• Brazilian real

Andrew Brown, Post Office head of travel money, said: “What’s interesting is the sheer range of choice available to people who want to ensure they get good value when travelling abroad in the coming months.

“Not only is sterling holding its own against all European currencies at a time when many Britons will be planning visits to cities holding Christmas markets, but there are relatively few winter sun getaways where the pound is weaker than a year ago.”

Among the currencies looked at, sterling’s biggest gains over the past year have been against the Turkish lira and the Brazilian real.

The Turkish lira has seen a 97% year-on-year jump in sales and is now the fourth best-selling currency, the Post Office said, with the euro remaining its most popular currency followed by the US dollar and the Australian dollar.

The weakening of the Turkish lira over the past year gives holidaymakers from the UK the equivalent of £139 extra in lira on a £500 currency transaction compared with a year ago, Post Office Travel Money said.

Meanwhile, those visiting Australia could also look forward to the equivalent of £28 extra on a £500 exchange compared with a year ago.

Other currencies which have weakened against sterling include the Icelandic krona, the Russian ruble and the Indonesian rupiah – giving visitors to Bali the equivalent of nearly £50 extra cash to spend on a £500 currency purchase, Post Office Travel Money said.

Meanwhile, currencies which have strengthened against sterling over the past year include the Kenyan shilling, the Malaysian ringgit, the Japanese yen and the Thai baht, the index found.

Mr Brown continued: “The best advice for people planning holidays abroad to get the most for their money is to do their homework on resort and city costs and set a realistic budget.”