Holidaymakers may cheer the news that prices in popular destinations, such as Croatia and South Africa, have fallen in the past 12 months.
According to research from the Post Office Travel Money, year-on-year recovery in Sterling has helped improve affordability in 70% of the top 40 holiday destinations for Brits. Currencies such as the Turkish lira and US dollar have fallen against the pound in the past 12 months leading to better value for Brits abroad.
To calculate where Brits can get the best value for money abroad, the Post Office has taken the countries from its top 40 most purchased foreign currencies, and compiled figures based on a basket of goods that tourists would most likely buy, including items such as food and drink, sunscreen and insect repellent.
It found that Sunny Beach in Bulgaria is the most affordable, where the basket of goods would only cost on average £37.92. This is followed by Japan (£43.14) and Portugal (£44.25).
Conversely, the most expensive destinations on the list included Singapore (£153.72), Mexico (£141.23) and Malta (£141.23). It must be noted however that these figures don’t include outlay for flights and accommodation.
Long haul destinations have seen the biggest percentage changes in costs, such as Dubai falling 36% year-on-year, New Zealand falling 27%, and Caribbean islands such as St Lucia falling 31%.
See the table below for long haul destinations that have experienced the biggest percentage price change.
|Destination||Price fall relative to Sterling|
|Jumeirah Beach, Dubai||-36.1%|
|Rodney Bay, St Lucia||-31.4%|
|Jolly Beach, Antigua||-30%|
|Auckland, New Zealand||-27.3%|
|Montego Bay, Jamaica||-27.1%|
|Punta Cana, Dominican Republic||-25.9%|
|Hoi An, Vietnam||-21.2%|
|Cape Town, South Africa||-16%|
Source: Post Office Travel Money, January 2018.
Closer to home, prices in popular European countries remain high. The only country that experienced a fall relative to Sterling was Croatia. Countries such as France and Italy remain the most expensive destinations in Europe for Brits to visit.
Andrew Brown of Post Office Travel Money comments: “The squeeze on spending at home means holiday resorts and cities where the pound will stretch further or where local prices are cheap are likely to reap the benefit of increasing visitor numbers in 2018.
“This year’s barometer results are a mixed bag. Holidaymakers planning trips to long haul destinations will benefit from big price falls that will help their travel cash stretch further. The Far East looks great value – especially Japan, Vietnam and Bali - and so too are several Caribbean islands.
“Closer to home, tourists will have to dig a bit deeper in their pockets to meet the higher prices we found in many resorts. Despite this, there is no beating Bulgaria for its low prices and it is good to see Croatia featuring in the best value top 10 for the first time. The clear message is to do your holiday homework before booking to be sure of a good deal.”
The graph below details the price of a basket of goods in all 40 countries researched by the Post Office.