Early last year I posted an article Make Your Pounds Go Further. This advised how to make the most of your holiday money, following a fall in the value of the pound over the previous twelve months.
The good news is that, compared with a year ago, your pounds do go much further now in most destinations, with holiday items costing more than 50% less in one country!
This is according to a recent Post Office Travel Money Report on the cost of a basket of ten typical holiday items, such as a cup of coffee, a can of Coca-Cola, insect repellent, sun cream and a three-course evening meal.
One of the ten items is a packet of Marlboro Light cigarettes! Maybe it is time the basket was revised.
Prices were checked at 40 holiday countries throughout the world and were found to be less than a year ago at 34 of these destinations. This assumes of course that you get a good exchange rate for your pounds, as discussed below.
Top of the list was South Korea. Maybe not the most popular destination, but you would pay 53% less than a year ago for the basket of holiday items. This is followed by Gambia, Jamaica, Japan and Portugal, all more than 30% less. That would of course make a really big difference to how far your holiday money would stretch.
The only countries costing more this year were Vietnam, Spain, Egypt, Singapore, Costa Rica and Sri Lanka, with the latter costing a whopping 35% more.
However this year-on-year comparison is only part of the picture. What is the actual cost of the basket?
Well the whole basket of ten items costs less than £40 in Indonesia (Bali), Portugal, Czech Republic, Gambia, Bulgaria and Spain. At the other end of the spectrum, the basket costs over £100 in China, Singapore, Australia and, the most expensive of all, New Zealand.
Of course there are lots of other costs involved in a holiday, such as hotels, car hire and, of course, the cost of getting to your holiday dream spot, but at least these comparisons will allow you to budget for when you are abroad.
As a Senior you probably have little scope for saving on any of the items included in the basket, although your Coca-Cola and Marlboro Light consumption will probably be quite low!
You can however save a lot on the other holiday costs by visiting these destinations off-season and flying mid-week, see Fly on a Tuesday! Also don’t forget to check out the special Hotel Deals for Seniors available throughout the world.