Where is the cheapest holiday?
Deciding where is the cheapest holiday destination means looking at two things. How much of the local currency do you get when you exchange, and in the local currency, how expensive is it to buy the things you buy when you’re on holiday?
To decide where is the cheapest holiday destination in 2020 we can use data just published by Post Office Travel Money, who have compared exchange rates for the top 40 travel currencies against this time last year. It’s good news.
Sterling is up against 80% of the top 40 travel currencies, according to the Post Office Travel Money Holiday Money Report for 2020.
So where is the cheapest holiday? Well, the biggest currency exchange bargains are the Chilean Peso and Turkish Lira.
Other destinations for a much better deal than last year include South Africa, Mauritius, Budapest, Croatia, and Bulgaria.
Going the other direction are Egypt, where you’ll get 10% less for your pound, and Costa Rica, where you’ll get 7% less.
The uncertainty over trade negotiations with the EU and the rest of the world means that exchange rate variations are likely, and it may be a good to time to pick up at least some of the funds for this year’s travel plans. You can act now to lock in prices.
Good advice is to pick up some of what you expect to need, now, while the rates are good. Between now and your holiday, if rates improve you can still take advantage and pick up the rest of what you need. If rates worsen, then you’re still better off overall because you’ve got a good deal now.
Compared to last year, changing £500 into Turkish lira will get you an extra £80 to spend. The beach resort of Marmaris is also one of the cheapest places to visit if you compare the cost of common holiday items like a bottle of water or a glass of wine.
In Chile, your £500 will get you an extra £87 to spend.
In Budapest you’ll get 10% more for your money compared to last year. That means an extra £44 to spend for each £500.
In South Africa, you’ll get an extra £47 to spend for each £500 you exchange.
Booming in popularity, Croatia and Bulgaria will also give you a decent amount of extra spending money. You have to consider though, that the increased popularity can cause prices to go up, so you still need to shop around.
In the eurozone, you’re getting 4% more, and the cheapest countries are still Spain and Portugal. Prices in Corfu have fallen by 20%.
Where is the cheapest holiday destination when you look at prices of common goods?
According to the Post Office, based on measuring the cost of 8 standard items (dinner for 2 with wine, suncream, insect repellent, water, beer, coke, wine and coffee), here are the top 10 cheapest holiday destinations for 2020:
- Bulgaria (Sunny Beach) £30.68
- Turkey (Marmaris) £44.15
- Japan (Tokyo) £48.21
- Portugal (Algarve) £49.87
- Spain (Costa del Sol) £53.16
- South Africa (Cape Town) £59.39
- Vietnam (Hoi An) £59.49
- Indonesia (Bali) £61.43
- Czech Republic (Prague) £63.02
- Cyprus (Paphos) £63.22
For the top 40 most popular holiday currencies, here is how much extra you will get for £500 compared to this time last year:
|South African rand||£47.51|
|New Zealand dollar||£29.88|
|Dominican peso oro||£26.49|
|Peru nuevo sol||£8.68|
|East Caribbean dollar||£1.54|
|Hong Kong dollar||-£3.35|
|Costa Rican colon||-£39.39|