At a time when pundits are reporting a surge in demand for long haul packages because these now come close to matching the cost of European holidays, intelligence from the latest quarterly Post Office Travel Money Holiday Money Index supports the idea that UK holidaymakers plan to travel further afield.
Most notably, US dollar sales have surged by 14 percent for January-March 2016 compared with the same period a year ago. This is a significant increase because the dollar is the Post Office’s second bestselling currency and the double-digit percentage rise is more meaningful than for currencies where sales levels are lower. It also suggests holidaymakers are ignoring the fact that sterling is three percent weaker than a year ago against the US dollar, possibly because they believe the US will be good value once they get there.
Andrew Brown of Post Office Travel Money says: ‘Sales of long haul currencies are booming. This suggests a move towards holidays further afield – especially as it is being reported that long haul destinations are competing well on price with European ones, where package prices are rising. In the case of the US, we believe some people who would have visited Egypt have swapped Sharm el-Sheikh for Florida. Prices in Orlando remain very attractive for families on a strict budget.’
Thailand is one of the long haul destinations where demand for holiday packages is said to be surging. Post Office sales of the Thai baht have increased by 17 percent year-on-year, indicating an awareness of the good value available in both holiday packages and on the ground prices. Prices in Bali and Cape Town are even cheaper, which helps to explain why sales have surged by 23 percent for the Indonesian rupiah and by 20 per cent for the South Africa rand compared with January-March 2015. Another factor in the sales surge for South Africa is the fact that sterling has risen by 19.3 percent year-on-year against the rand.
Go Holiday news : www.govillasandcottages.co.uk
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