Britons are buying holiday currency at far higher levels than before the Covid-19 pandemic first took hold in the UK in spring 2020.
The first Post Office Travel Money Holiday Money Index of 2022 covering the period January-March 2022 shows strong growth in a wide range of currencies compared to the first quarter of 2020 and indicates that a significant number of Britons intend to leave for vacation abroad for the first time in two years. .
In particular, the extraordinary currency growth of Croatia and the Caribbean islands suggests that these are becoming the destinations of choice for British holidaymakers.
Sales of most currencies have accelerated since the start of the year and 14 of La Poste’s top-selling currencies, including the euro and the US dollar, have exceeded their high sales levels of two years ago. years.
The most spectacular growth was that of the Croatian kuna. After posting the highest post office growth of 52% in 2021, kuna purchases have increased 10 times since January and are now up 137% for the first quarter of 2022 compared to 2020.
Caribbean currencies have also seen high levels of growth, including the Barbadian dollar and the Jamaican dollar, sales of which have soared more than 100% since 2020. Strong increases have also been recorded by the Mexican peso (in 91% increase) and the Eastern Caribbean. dollar (+89%), suggesting vacationers will head to resorts such as Cancun, St. Lucia, Antigua and Grenada.
Nick Boden, Travel Money Post Office Manager, said: “We are used to seeing a spring surge in Croatian Kuna sales, but March’s surge was unprecedented, indicating that Croatia is set to have another very successful year. We have also seen an extraordinary increase in sales of Caribbean and Central American currencies in 2022. This suggests that pent-up demand is prompting many Britons to plan unforgettable holidays to some of the world’s most ambitious destinations.
Post Office Travel Money’s fastest growing currency comparison on two-year sales also shows that holidaymakers are planning trips to Mauritius (rupee sales up 45%) and Dubai (Emirati dirham sales Arab Emirates up 67%), the latter now ranking fourth in the post office chart of best-selling currencies (fact sheet table 3). The euro remains the most popular currency for British holidaymakers with sales in March more than double those of January. Sales in US dollars were up 85% in March compared to January.
Reporting rate movements, the Exchange rate monitor reveals that the pound is stronger against more than 30 major Post Office Travel Money currencies in 2020 than in 2021. The pound is up against 16 currencies from April 2021, but against 70% of the best sellers since April 2020 The biggest two-year gains of more than 115% are against the Turkish lira, giving Britons more than £268 more in cash on a £500 trade. The monitor also shows strong sterling gains of more than 20% against the Mauritian rupee, Costa Rican colon and Japanese yen since 2020.
In addition to measuring exchange rate movements and foreign currency sales trends, Swiss Post
The Holiday Money Index also tracks the cost of food and beverages in destinations with the fastest growing currency sales over the past two years and found a wide disparity in costs.
Prices in Marmaris, Turkey are much lower than any other destination due to the weak lira, but other than that, prices at the other 10 resorts surveyed vary widely. Prices are down 13% since 2020 in Orlando, Florida, and the £55.62 cost of a three-course meal for two with a bottle of wine and a range of four drinks (coffee, beer, coke and wine) is less than half the price in Barbados (£133.70).
Long-haul hotspots Mauritius (£60.35), Costa Rica (£61.68) and Jamaica (£64.32) are also excellent value for money compared to Barbados, while in Europe , Croatia (£64.02) is reasonably priced. Prices in the six cheapest destinations surveyed are lower than in 2020. Although this was mainly due to the strength of the pound, the falls in Orlando, Mauritius, Costa Rica and Jamaica were also boosted by a lower local prices.
Nick Boden commented: “Holidaymakers still considering where to book should consider resort fees, as our Holiday Cost Barometer study found wide variations in the cost of food and drink. Turkey is by far the least expensive but, across the Atlantic, falling prices in Orlando make it an attractive choice – especially for families – and bargain hunters in the summer are likely to find Costa Rica and Jamaica the best value for less half the cost of Barbados.Travelling east, Mauritius also has excellent value for money.
Conversely, the higher prices seen in Mexico (Cancun, £73.37), Saint Lucia (Rodney Bay, £89.71), Dubai (Jumeirah, £115.81) and Barbados ( Bridgetown, £133.70) are the result of price increases from local stations. . In the case of Mexico, a 13 percent fall in the pound against the peso also contributed to the price increase.
The Post Office is the UK’s main supplier of foreign currency, offering around 60 currencies for pre-order at around 7,000 post offices or online at www.postoffice.co.uk/travel for next day delivery to the branch or at home.
3,600 larger postal agencies stock the main currencies and around 7,000 offer euros at the counter without pre-ordering. These can also be ordered online for same day click and collect from select branches, next day collection from any branch or home delivery.