Spending a vacation at an excessively expensive tourist destination would be counterproductive, as the vacationist would have to work with an unforgivingly low budget that’d prevent him from doing everything he wants to do; or blow all his money and go home broke, thereby causing more financial difficulties and even debt.
More people are starting to work around this issue by opting to buy foreign currency to increase their spending power. Americans and Europeans alike are pinning the value of their local cash against that of foreign money, and spending it the designated countries where they’ll get a longer stretch for every penny spent.
According to the Post Office Worldwide Holiday Costs Barometer – which compares in-resort prices for a shopping basket comprised of eight local items, including beverages, a pack of cigarettes, and a three-course meal for two – Spain has taken the number one spot as the cheapest holiday destination for Brits.
A recent survey indicates that the costs for eating outside at this tourist hotspot have been reduced by 50 percent in comparison to five years ago.
Approximately one-third of the 42 places to visit included in the survey have also witnessed a price drop, as the prices for goods or services sold at restaurants, bars and accommodations have dropped to notably lower levels. Greece serves as a perfect example for the reduction of prices, as the cost for a basket of goodies here have fallen to £57.50, thereby denoting a decrease of 18 percent.
Semi-favorable holiday conditions are noted in Barbados as well, as the barometer basket indicates a 26 percent decrease to £84.24.
For more affordable alternatives, tourists can always plot their vacations at the Czech Republic, Bali and Vietnam, wherein the basket prices are kept at the lower end of the price spectrum at £39.17, £40.47, and £43.20 respectively.
Although Sri Lanka witnessed a 27 percent increase, the island still manages to share the top spot along with Spain, as its weakened currency continues to fair poorly against the foreign money of the majority of countries.
Fluctuations in the currency exchange rates worldwide have made the option to buy foreign currency and spend vacations abroad much more appealing. Those residing in countries wherein their local currency does well against the holiday destinations listed above will be surprised at the significant increase of spending power they get to enjoy during their stay at any of these places.