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The Post Office Tell Where you can Spend more for Less

Where will you get the most for your pound when travelling abroad these days?

In their latest travel survey from First Rate, the Post Office’s Foreign Exchange wholesaler, you get the most from your pound in the Czech Republic, or Hungary.

The survey measures the total price, calculated in pounds sterling, of a list of ten popular tourist staples in 27 countries.

The survey also discovered that Bulgaria, Croatia and Turkey are cheaper destinations than other countries in the Eurozone, although Spain did well, coming within the top ten. Number two in the rankings for the cheapest Eurozone destination was Malta, although it came out at 12th overall.

Further afield, travellers from the U.K. will find the pound the strongest, and costs low, in South Africa and Thailand.

Gordon Gourlay, Managing Director of First Rate, said: “Although year on year sterling has dropped in value by over 10% against the Forint and 15% against the Koruna, its relative strength against these currencies, combined with lower local tourists costs, make Hungary and the Czech Republic two of the best value destinations for 2009.”

He added: “We expect that in 2009 foreign exchange retailers will find that many people who are travelling to the Eurozone will be monitoring exchange rates well in advance so they can purchase their travel money to coincide with rises in sterling’s strength against the euro, rather than just their imminent departure.”

He predicts that U.K. travellers will be paying close attention to exchange rates as the holiday season approaches.

The survey found that sterling had dropped the most in the Czech Republic and in Hungary, but had faired better against other Eurozone countries.

And with U.K. citizens feeling the brunt of the economic troubles, First Rate believes that these cheaper destinations, where sterling buys more than say some of the more traditional resorts, will become popular.

It is felt that canny holiday makers will be actively seeking out the places where they will get the most for their money, bringing with it a whole new dynamic to the travel industry. It heralds a new challenge to all those involved in overseas tourism.