Rise in Sterling good news for holiday makers!

Added 25/02/2014

World currencies

The news that Sterling is on the rise again should be encouraging news for those of us planning a holiday abroad this year.

According to the annual Post Office Travel Money survey, which compared rates in February 2014 with those in February 2013, Sterling has risen against all of the top 40 holiday currencies in the last year. This means your pound will go further when you’re abroad, most noticeably in countries such as Turkey, Brazil and Australia.

Those heading to Turkey, which is ever popular with UK tourists looking for some great value sun and relaxation, will see their pound buying 3.47 Lira, compared to last year when it would have got them just 2.6 Lira.

If you’re planning on going further afield, perhaps to Brazil for the World Cup or Australia to visit family and friends could find their holiday purchases are 33% and 25% cheaper respectively than they would have been last year.

The only disappointing news is that Sterling’s rise against the Euro has been much more modest with a pound now buying 1.17 euro compared to 1.1 euro last year — but it all helps when you are managing a holiday budget!

The reduction in cost in the Turkish Lira compared to the Euro could see Turkey challenging Spain as one of the most popular holiday destinations for Brits this year.

Whether you choose Spain or Turkey, Brazil or Australia, the Foreign and Commonwealth Office recommend that you purchase travel insurance every time you go abroad and if you have any existing medical conditions you should ensure that these are fully covered.

Find about more about travel insurance for medical conditions >>