Cookies at Which? We use cookies to help improve our sites. If you continue, we'll assume that you're happy to accept our cookies. Find out more about cookies

20 month currency high good for holidaymakers

Sterling boost will mean cheaper trips abroad

Holidaymakers visiting European destinations will have more money to spend as a result of a hike in the value of the pound. Sterling is now at a 20-month high, trading at €1.21 against the euro, which means better exchange rates for travellers to foreign resorts. 

According to research conducted by Thomas Cook, holidaymakers in Europe will spend £4.50 a day less, on average, as a result of the upturn in the value of sterling. This would amount to a saving over a two-week trip of £63 per person.

Travel money will go £4.14 further, on average, with holiday makers spending £38.36 a day. Those holidaying in the Canary Islands will part with £36.18, a saving of £5.92 a day. Daily spend on typical purchases in mainland Spain will be £3.39 cheaper than last year, at £31.27. 

Ice cream and a beer

The daily spend was calculated as being on a range of typical items purchased by holidaymakers. These included a bottle of beer, a cup of coffee, a three-course meal and an ice cream. 

Thomas Cook UK & Ireland’s chief executive Ian Derbyshire says: ‘Everyday essentials have gone down in many Euro resorts, such as Spain and the Canaries. This, combined with a stronger exchange rate, will ensure travellers get the most out of their money in these ever-popular resorts.’

For advice on the best ways to spend abroad see the Which? Holiday Money advice guide.

pound coins

Which? Money when you need it

You can follow @WhichMoney on Twitter to keep up-to-date with our Best Rates and Recommended Provider product and service reviews.

Sign up for the latest money news, best rates and recommended providers in your newsletter every Friday.

Or for money-saving tips, and news of how what’s going on in the world of finance affects you, join Melanie Dowding and James Daley for the Which? Money weekly money podcast

For daily consumer news, subscribe to the Which? news RSS feed here. And to find out how we work for you on money issues, visit our personal finance campaigns pages.

Categories: Uncategorised

Back to top