Perfect time for Britons to holiday in Europe, says Post Office
- 16th February 2015
- Business & Economy
There’s no need to go very far for dirt-cheap holidays these days due to the rising pound and falling prices.
Low-cost holidays are available right on our doorsteps and you no longer need to jet-off east to find a pint for less than a pound. Well, that’s what we’re inferring after reading a new report by the Post Office Travel Money.
A combination of sterling’s strength versus the euro and falling prices due to the collapse in oil have made it a great time to book a European holiday.
The exchange rates have moved in our favour so much that, when changing £500 into euros, UK tourists stand to gain an extra £52 compared to five years ago. Furthermore, most places seen prices fall by 50 per cent, if you look at the cost of items that are commonly purchased in resorts.
It’s harder to find such good value for money even when looking at holidays in countries that are typically believed to be cheap, such as East Asia and the Caribbean.
“There is no doubt that UK tourists can look forward to getting more travel cash for their pound this year in Europe but people planning trips further afield could get caught out by falling rates for sterling in some countries,” said Andrew Brown of Post Office Travel Money.
“The best way to avoid this is to consider a resort where the pound still goes quite a long way, and check to see how prices for meals and drinks compare in a range of destinations,” he added.
Looking at the cost of a bottle of beer, or a cup of coffee for the non-drinkers, Post Office data shows that the two cheapest destinations in Europe are Portugal and Bulgaria.
A bottle of beer costs 61 pence and 77 pence in Bulgaria and Portugal, respectively. While a cup of coffee will set you back 54 pence in Portugal and 81 pence in Bulgaria. Moreover, those that have enough time can save further costs if driving and using the Channel Tunnel, as the cost of petrol should continue to decline in the summer.
“Motorists planning trips to Europe by car this spring can bank on the cost of a litre of unleaded petrol being up to 26 per cent lower than last summer compared with just over 18 per cent cheaper in London petrol stations,” said Mr Brown.
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