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European holidays more expensive than last year

Posted on 2 Aug at 9 AM Tags:

Holidaymakers choosing a trip to Europe are likely to find it more expensive than last year because of the changing value of the pound on the currency markets. However, those prepared to consider a longer-haul trip may find they get more bang for their buck than a year ago.

Among the countries now offering better value for the pound are India, Brazil, Egypt and Australia. In July last year the pound was worth 1.5 Aussie dollars, now it is worth around 1.66. The 10 per cent swing means that £1000 worth of goods and services now costs £900.

Brazil continues to grow in popularity with foreign visitors ahead of the 2014 football World Cup and the 2016 Olympics. Those flying in from the UK will benefit from an improvement on last year’s exchange rate as it has risen from 3.18 real to 3.46 real to the pound.

Unfortunately the pound has not done so well against the euro. A holiday in France, Italy or Spain is currently nearly 10 per cent more expensive than it was last year. In July last year the pound would have secured 1.28 euros. Today the British currency is worth 1.16 euros.

Across the pond the dollar has also increased in value and holidaymakers visiting the US will find the value of the pound has dropped from $1.57 to $1.54.

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