Four destinations where clients will get more for their money this year

By Lisa James
27/02/2023
Home » Four destinations where clients will get more for their money this year

New research has revealed the holiday destinations where currencies have dropped against sterling, meaning Brits will get more when they exchange their pounds.

The biggest winners will be people travelling to Egypt, where the Egyptian pound has crashed against sterling, according to the Post Office’s Holiday Money Index.

It reveals visitors to Egypt will get almost 73% more than a year ago for their UK pounds – the equivalent of over £210 extra on a £500 currency transaction.

The Turkish lira is continuing to fall against sterling and is currently at 25% less year-on-year.

The lira is now over 180% weaker than in March 2020, meaning visitors will receive the equivalent of over £321 more in liras on a £500 transaction than in 2020.

And Brits considering holidays in Africa will get more for their pounds than last August – 5% extra in Kenya and almost 10% more in South Africa.

The crash in Egypt’s pound against sterling means Britons visiting Sharm el-Sheikh will pay around £48 for a three-course meal for two with a bottle of wine, compared with more than twice that amount in Antigua (£100) or Barbados (£105), the Post Office has calculated.

However, sterling has fallen against the currency of some of the destinations that are currently proving popular, such as against Costa Rican colon (-22%), Mexican peso (-19%) and Jamaican dollar (-13%).

Sterling is now 5% weaker than last August against the euro and has dropped 9.5% against the Hungarian forint, adding to the cost of a city break in Budapest.

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