Press release -
Winter sun set to shine on Far East holiday resorts
- Strength of sterling sees prices plummet in long haul hotspots: Post Office finds falls in over 88% of the destinations also surveyed last year
- Falling local prices combine with a weaker Vietnamese dong to help Hoi An retain its place as best value of 30 long haul destinations (www.postoffice.co.uk/longhaul)
- Far East looks a bargain this winter, taking five of the 10 best value barometer places
- Highest new entrant to barometer chart is Delhi, India in sixth place
- Biggest price falls recorded in Chile (down 44%) and Antigua (down 35%)
A surge in sterling’s value against long haul currencies means Britons planning winter sun holidays can expect to pay less than a year ago in over 88 per cent of destinations surveyed for the annual Post Office Travel Money Long Haul Holiday Report1. Led by Vietnam, destinations in the Far East look set to offer the best bargains. They take five of the 10 ten places in the comparison of costs in 30 leading long haul holiday resorts and cities2 compiled by the UK’s leading foreign exchange provider from local prices researched by report partner the long haul tailor-made holiday specialist Travelbag and tourist offices.
Top Vietnamese resort Hoi An has retained its position as the cheapest destination for the second year running. A drop in local prices and the falling value of its currency, the dong, have combined to bring costs down by 19.2 per cent since last autumn. At £52.66, the barometer basket of 10 tourist staples3, including a three-course evening meal for two and range of drinks, is over 11 per cent lower than its nearest rivals – Mombasa Beach, Kenya and Cape Town, South Africa.
The positive role played by sterling is particularly clear in Kenya. The Kenyan shilling is currently worth a third less than a year ago against sterling, which means that while local prices have risen by around eight per cent in Mombasa Beach, the overall barometer total of £59.57 is almost 20 per cent lower than in 2022. As a result, Mombasa Beach has overtaken Cape Town to take the runner-up position in this year’s chart. Prices in third-placed Cape Town total £61.58, over eight per cent less than a year ago.
Similarly, prices are down 9.8 per cent in Bali (4th, £72.39), 7.7 per cent in Tokyo, Japan (5th, £73.54), 3.7 per cent in Phuket, Thailand (7th, £88.36) and 17.1 per cent in Penang, Malaysia (9th, £90.11). They join Vietnam in the top 10, indicating that the Far East is likely to be a great value choice for bargain hunters this winter.
There are three new entrants to the Post Office barometer top 10. Delhi, India (£79.53), surveyed for the first time in five years, is the highest placed of these in sixth position. Sharm el-Sheikh is included for the first time in a decade and takes eighth place with a barometer cost of £89.56 on the back of a 70 per cent year-on-year fall in the value of the Egyptian pound against sterling. Sri Lanka’s capital city, Colombo, (10th, £92.58) returns to the best value top 10 after a two year gap due to political unrest in 2022.
Barbados and New York are the most expensive of the 30 destinations surveyed, although prices have fallen by over 26 per cent in Bridgetown, Barbados to £169.17 and 5.4 per cent to £152.41 in New York.
About the Post Office
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