Best value holiday destinations
Following the Euro-zone crisis and the global economic meltdown, the value of the pound has taken a serious hit. However, it’s currently starting to show signs of improving and looks attractive against weaker economies.
When looking for a holiday destination this year, you could use this to your advantage. This means more foreign currency and spending power in your pocket, allowing you to further enjoy your holiday.
Against stronger currencies such as the US dollar and Euro, the pound has remained relatively strong. Yet, if you want to make the most out of your cash, the USA and Euro-zone are not the bargain destinations of choice.
A recent report by This is Money revealed that over the last 12 months, the pound was particularly strong against the South African rand.
Throughout 2011, British holidaymakers heading to South Africa received 26% more cash for their pound. Late last year, the exchange rate hit a high of 13.30. The rand has performed badly against other emerging markets in recent times.
Turkey is another destination that has a very weak currency at 2.96 against the pound. Over the last few years, Turkey has become a popular holiday destination for UK travellers hoping to avoid the high price of the Euro.
The Turkish lira is not expected to drastically recover over the next 12 months and so it remains a hot travel destination for anyone looking to stretch their funds.
If you are going abroad this year, one-way you could protect your cash is by taking out a prepaid credit card.
They are simple and effective ways of helping you manage your cash whilst abroad and in the UK. The Orange prepaid credit card is a great way of reducing the risk of identity fraud and managing your budget.