Post Office predicts rise in long-haul demand
The Post Office is predicting an increase in demand for long-haul holidays due to currency fluctuations.
As the pound continues to weaken against the Euro, it’s latest report, What the Pound Buys Abroad, found sterling has gained ground over the past year in six long-haul destinations out of the 20 surveyed.
The destinations are South Africa, Hong Kong, Jamaica, Barbados, St. Lucia and the US, while the exchange rate with Dubai has remained constant.
In the run up to Easter, sales of US dollars showed an increase of 23% over the past month and 48% during Easter week.
Similarly, the Post Office sold 46% more UAE dirhams during March 2008 and 27% more Hong Kong dollars.
“Looking forward, we believe that holidaymakers will look very carefully this year at how to get the best value for their money,†said Helen Warburton, Post Office head of travel.
“With the Open Skies agreement due to come into force in April, they should keep a close eye on transatlantic flight costs, where the market will become more competitive. “
Although sterling has dipped in value against every European currency, euro sales were up 29% in Easter week.
But Warburton said Prague, one of the most popular city break destinations, may be set for a tougher time. Its currency, the Czech koruna, is now worth 31.63 % more against sterling than a year ago and sales have slumped by almost 11% over the past 12 months.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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