Five Holiday Destinations Where the Pound Has Become Stronger

Egypt Pyramids
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by James Connington, The Telegraph, June 13, 2017

On the day of last week's surprise general election result, the pound fell on average by 2pc against 158 global currencies.

Over the past year, the fall in the pound has been even more dramatic. A pound was worth $1.45 and €1.30 but now buys just $1.27 and €1.13. 

This has hit holidaymakers hard, as spending abroad now costs around 20pc more in many places.

However, there a number of destinations where the pound has in fact become stronger in recent years. 

Telegraph Money has compiled a round-up of countries where the pound has become stronger over the past two years, based on research by exchange service Caxton FX.

Make sure you check government travel advice before deciding on your travel destination.

1. Argentina

Rate two years ago: 14

Rate today: 20 

Thanks to the collapse of the peso at the end of 2015, the pound has gained around 40pc against it over the past two years.

According to Lonely Planet, the travel guide, a typical main dish at a restaurant costs £9-£12, and a cross town taxi trip costs £8. 

Travel advice: Argentina is deemed largely safe, but there is crime to watch out for such as bag snatching and some more serious kidnappings. No visa is required for trips of up to 90 days. Read more here

18 reasons to visit Argentina 

2. Mongolia 

Rate two years ago: 2,884

Rate today: 3,001

The Mongolian tugrik is a volatile currency. The pound is up 4pc against it over the past two years, but more than 20pc since its lows in 2016.

A restaurant meal in the capital Ulaanbaatar typically costs £6-£11 according to Lonely Planet. 

Travel advice: According to the government's travel advice, most visits to Mongolia are trouble free, but foreigners stand out so should not go out alone at night. Border areas may also be off limits, requiring special permission to visit. Read more here

3. Zambia 

Rate two years ago: 11,378

Rate today: 11,571

The pound-kwacha exchange rate hit nearly 20,000 in 2015. Although it is nowhere near that today, it is still up by 2pc over the past two years. 

A safari trip including meals and activities costs around £194 according to Lonely Planet. 

Travel advice: The government warns that tourists need to be careful of strict immigration rules and being out after dark outside the main towns. Around 60,000 British tourists visit each year. Read more here.

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4. Egypt

Rate two years ago: 12

Rate today: 23

Since the Egyptian Pound was unpegged from the US dollar in November 2016, its value has sunk against sterling.

A mid-range double air conditioned hotel room costs around £23, and a personal tour guide and driver typically costs £4 an hour, according to Lonely Planet. 

Travel advice: There are areas of Egypt that the government advises against travel to amid other warnings. There is no advice against travel to Cairo, Alexandria, the tourist areas along the Nile and the Red Sea resorts. Read more here

5. Venezuela 

Rate two years ago: 10

Rate today: 13

The pound has gained 30pc against the bolivar since this time two years ago thanks to a 2016 crash - the latest in a succession of economic downturns.

According to data service Numbeo, a local beer typically costs 59p, and a meal at an inexpensive restaurant costs around £3.

Travel advice: The government advises against travel to multiple areas of Venezuela. Only essential travel is recommended for the capital Caracas, but there are areas in the south of the country, including the Los Roques Achipelago National Park where such warnings are not in place. Read more here

 

This article was written by James Connington from The Telegraph and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to [email protected].