Revealed: The popular tourist destination where Brits will get the best exchange rate
It feels like it's getting more and more expensive to go abroad, and many Brits are really feeling the pinch when it comes to their holidays.
But there's a popular tourist hotspot where your pound will stretch further than anywhere else.
Post Office Travel Money's Holiday Spending Report looked at how sterling is performing against its 30 bestselling currencies compared with 12 and three months ago.
It reveals that visitors to Turkey from the UK will get the most for their money, due to the ongoing, long-term collapse of the Turkish lira.
Over the past three months, the lira has fallen by 12.9 per cent against the pound.
And, compared with last June, visitors can now expect to receive around £116 (+30.2 per cent) more when they buy £500 worth of lira.
The report also reveals the sterling has bounced back against the US dollar and is currently 6.6 per cent stronger than it was a year ago, and has gained 4.9 per cent in the past three months.
For £500, tourists will now receive almost £31 more of US dollars, than they would a year ago.
The report also reveals the sterling has bounced back against the US dollar and is currently 6.6 per cent stronger than it was a year ago, but Brits are turning their back on the States
Despite this bang for your buck, the report found that many Brits are turning away from travelling to the States.
Over half (53 per cent) of those surveyed said they'd actively avoid destinations where they think President Donald Trump's tariffs could affect resort prices, and 39 per cent said they categorically will not travel to the States.
But those not wanting to go to the US can still benefit from the dollar recovery, as it extends to the Caribbean and Middle East currencies pegged to the dollar.
It means Brits planning trips to Barbados, Antigua, Dubai, and other long-haul holiday favourites will get more for their pounds.
Meanwhile, holidaymakers rated Spain (41 per cent), Turkey (35 per cent) and Thailand (31 per cent) best value for money out of 39 worldwide destinations.
However, the report found the Thai baht was one of only five of the 30 bestselling currencies to rise in value against sterling.
A sterling year-on-year fall of 5.2 per cent means that British visitors will get £27.64 fewer Thai baht on a typical £500 currency transaction.
Given that almost half (48 per cent) of holidaymakers said they will choose their destination based on the strength of sterling, two other Far Eastern destinations – Vietnam and Bali - will actually offer Brits more for their money.
Visitors to Vietnam will get the equivalent of £42.01 – or 9.2 per cent extra - on a £500 purchase of Vietnamese dong.
Those choosing Bali, fourth-placed in the barometer, can expect around £33 (7.1 per cent) more in Indonesian rupiah than a year ago.
Laura Plunkett, Head of Travel Money at Post Office, said: 'This year's holiday spending research again demonstrates that holidaymakers don't always set a realistic budget and overspend by large amounts as a result.
'It's great to hear that holidaymakers are already planning to budget more for their holidays this year, to avoid coming unstuck when they arrive at their destination.'
postoffice.co.uk/holidayspending.
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