2016 could be the year to visit some different destinations you never thought you could afford.
Our latest currency analysis reveals 12 alternative holiday destinations where you can get twice as much for your money compared with 2013 – helping you explore more of the world, for less!
Holidaymakers should put aside their usual travel plans this year and consider less visited destinations, the EU Referendum has impacted how far your pounds go in Europe.
In analysis of the Scottish Referendum which took place in 2014, we found it had a significant impact on currency, with Sterling varying by over 3% against the Euro in a short space of time.
To prevent holidaymakers being impacted by the Brexit-effect, we’ve has put together a list of 12 alternative holiday destinations to visit this year, where you can get even more for our money – helping holidaymakers explore more of the world, for less. Make sure you also take a look at the FairFX Everywhere Card if you’re planning on travelling outside the EU and US.
The FairFX alternative dream destination guide features Russia, South Africa, Australia, Canada and Malaysia which all offer significantly better value thanks to long-term favourable exchange rates. The guide also points consumers towards more off-the-beaten-track destinations including Nepal, Angola, Iran and even the Himalayan kingdom of Bhutan – billed as one of the happiest places on earth.
FairFX’s alternative dream destinations ranked (full guide below):
1 – Argentina (closely followed by Brazil, Colombia and Uruguay)
2 – Russia
3 – Iran
4 – Zambia (closely followed by South Africa, Namibia and Angola)
5 – Ghana
6 – Norway
7 – Australia
8 – Indonesia
9 – Canada
10 – Malaysia
11 – Hungary
12 – Nepal (closely followed by India and Bhutan)
Fluctuations in exchange rates this year coupled with the looming Referendum mean that traditionally popular holiday destinations could be more expensive with the value of the pound dropping against the US Dollar and the Euro. Choosing a destination with the best performing currencies mean that holidaymakers can save hundreds of pounds on their holiday. For instance, the value of Sterling against US Dollar has dropped by 10% over the last five years meaning that holidaymakers get around £100 less for every £1,000 spending money. In comparison, the rate for the Argentine Peso has improved by 175% meaning you’ll get nearly £700 more for every £1,000 exchanged – so holidaying in Argentina will effectively give you £800 extra in your pocket.
Darren Kilner, currency expert at FairFX, commented:
“The 2014 Scottish Referendum had a significant impact on currency. When the polls signalled that it was possible for a YES vote to come out on top, Sterling began to lose ground to the Euro with rates varying over 3%* within a short period of time, costing travellers who needed to buy £1,000 worth of Euros during that time over £30** more.
“While many people will have an idea of where they’re planning to holiday this year – with Europe and America being the most popular places to travel,* many consumers don’t realise how big an impact currency rates have. While you may know that certain rates are not as strong as they were, it doesn’t always translate into how much extra this will add to the cost of a holiday. When you understand that you can save hundreds of pounds by choosing your holiday destination wisely, it suddenly makes new, alternative destinations much more attractive.
“Hopefully the FairFX alternative dream destination guide will highlight where holidaymakers can get the best value around the world – possibly meaning you can visit far-flung destinations you never thought you could afford.”