Pound Strengthens Against Major Currencies, Boosting Holiday Value
As summer vacation season heats up, British tourists are being advised to look beyond the headline cost of flights when planning their trips. According to Tony Redondo, founder of Cosmos Currency Exchange, exchange rates and local living costs can make a significant difference in the overall price of a trip.
The Pound has strengthened against several major currencies in recent months, including the Euro and Dollar. Against the Euro, it hit a 13-month high on July 15, but has since slipped by 1.4%. Against the Dollar, it reached a two-month high on the same day, down just 0.4%.
Redondo emphasizes that travellers should consider what their money will actually buy once they arrive at their destination. He notes that while the Pound is strong against the Euro, Turkey is an even better bet for tourists looking to stretch their budgets.
Turkey's Lira has fallen significantly against the Pound in recent months, making it one of the most affordable destinations for British travellers. Redondo also highlights Bulgaria and coastal Spain as value picks within the Eurozone, where accommodation costs can be steep but dining and groceries are relatively cheap.