New Report Identifies Best Value Holiday Spots in UK/Europe

JULY 8 2016

New Report Identifies Best Value Holiday Spots in UK/Europe

In the wake of the Brexit vote the spotlight has been on the UK and Europe and many Kiwi holidaymakers are wondering just how far their money will now go due to the fall of the Sterling.

While the Euro and other currencies within the European Union haven’t been affected like the British Pound, many travellers have recognised that now is a good time to be travelling to this part of the globe. Travel Money NZ reports the question many of their customers are asking is what destinations offer the best value for money.

Released today, the latest edition of the Travel Money NZ Holidays Costs Index (UK/Europe edition) answers this question. Monitoring the price of 10 tourist items in 13 destinations popular with Kiwi travellers, the easy to read index shows how potential destinations measure up, comparing on-the-ground costs such as bottled water, a local meal out and transport from the airport to the city centre.

Key findings include:
• As far as best value destinations go Eastern Europe comes up trumps with Poland a good option for budget conscious travellers, a taxi into the city centre will only set you back $3NZD, compared to $135NZD in London
• Croatia also tops the list of inexpensive destinations, particularly for a night out with a meal and beer costing $18NZD per person, on the flip side a night out in Norway might set you back $45NZD
• Surprisingly Germany comes out as one of the more affordable destinations, one nights accommodation in a 2/3 star property will cost around $115NZD, that’s compared to $280NZD in Amsterdam
• Coffee lovers should head to Italy where a cappuccino will only cost $1.90NZD, Norway on the other hand will set you back $6.70NZD
• McDonald lovers might want to re-consider visiting Sweden where a Big Mac will cost $8NZD
• Budget-conscious travellers who like a night out should consider the Czech Republic or Poland where a beer costs between $2-3NZD
• Thanks to the fall in the Sterling the UK no longer sits at the higher end of the scale, in fact the UK is the cheapest destination for buying a bottle of Coke, $1.10NZD compared to Norways $5NZD
The destinations in order from best value:
1. Poland
2. Germany
3. Croatia
4. Czech Republic
5. Spain
6. Greece
7. UK
8. Ireland
9. Portugal
10. Norway
11. Italy
12. Sweden
13. Netherlands
Scott McCullough, general manager Travel Money NZ, says that since the Brexit vote the demand from customers purchasing Sterling has been phenomenal.

“Since the result, our Travel Money NZ stores around the country have had record numbers through the doors with Kiwis wanting to buy large quantities of Sterling. After the initial announcement we nearly ran out of physical cash.”

At today's exchange rates, a traveller converting $5,000NZD into British Pounds would receive approximately £2,800GBP, 10 years ago in July 2006 this would have only bought around £1,600GBP.

Mr McCullough says many Kiwis make the mistake of foregoing to pay attention to exchange rates, however this latest movement has really shone the spotlight on the savings that can be made if travellers do their homework.

“We know that most of our customers book their flights months in advance but wait until the day they travel to purchase their foreign currency, this can cost in the long run. Exchange rates can see a lot of movement so it’s a good idea for travellers to monitor the market and purchase in advance when the rates are in their favour.”

With movements in the dollar as they currently are, this is a year when the holiday budget could spiral so Travel Money NZ’s advice for travellers is to do their homework, check prices for tourist staples in the destinations they are considering before booking and make sure to purchase foreign exchange in advance when the dollar is strong.

- ENDS -

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