Research reveals worldwide drop in hotel prices

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Post Office Travel Money highlights the best destinations to help travel money go further in 2010

Research has revealed the average price for hotel rooms worldwide has fallen by 14 per cent compared to last year(1). However, the weakness of sterling's foreign currency exchange rate against the euro during 2009 meant that UK travellers may not have experienced any real benefit when visiting countries across the eurozone.(2) For example, as a result the weakened sterling versus euro foreign exchange rate caused the cost of a hotel room in Paris to increase by three per cent for UK holidaymakers last year(3).

A Post Office Travel Money report has revealed UK travellers could find better bargains on holiday essentials while travelling outside of the eurozone. For example, the worldwide report of typical travel money purchases found that, for UK travellers looking to get the most from their foreign currency, there was a difference of almost £10 on the costs of typical holiday purchases between the overall cheapest destination, Hungary, compared to Spain, the lowest-priced eurozone destination(4).

The Post Office Travel Money report revealed that long-haul destinations such as Thailand, Indonesia, Kenya and Egypt can offer the UK holidaymaker good value for their foreign currency, with cheaper prices on typical holiday purchases such as drinks, sun cream and meals out. Even in the light of these lower costs, the Post Office urges UK travellers to be savvy and shop around for the best deals on their holidays and foreign currency so they can receive the best value on their travel money.

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