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.
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