Figuring out how much travel money to exchange ahead of your holidays can be a difficult call, especially with the ever-changing exchange rates. While some destinations offer travellers a favourable exchange rate, Britons may find they are forking out more than they usually would for day-to-day items and amenities.
Luckily, a team of travel experts from eurochange set to work comparing costs and expenses for some of the world’s favourite holiday cities, and ranked them based on where Britons will see the best value for money.
Using information supplied by ELLE and Condé Nast Traveller’s top destinations review the experts looks at the cost of a morning coffee, eating out, drinks and entertainment from country to country, along with the exchange rate for each
The top-scoring destination was found to be Middle Eastern hotspot Senegal in Dakar.
The UAE hotspot ranked a score of 50.5.
It was closely followed by African country Eswatini, a perfect destination for safari and nature lovers.
READ MORE: Travel money: These are the destinations where Britons can expect more for their money [DATA]
Holidaymakers planning a staycation this year are also in luck.
Both Plymouth on the UK’s south coast and Edinburgh in Scotland were listed, though at the lower end of the scale, scoring 26.9 and 20.6 respectively.
Tony Gibbons, MD of Eurochange, said: “It’s really interesting to see the difference in how far your spending money will go from country to country and this highlights how important it is to do your research on what things will cost before you buy your currency.
“Knowing how much you’re likely to spend on the key things you want to do while on holiday is a great start but it’s always a good idea to take a little more than you think you’ll need to account for unexpected costs and emergencies.”
Travellers looking to get a good exchange rate are always advised to keep an eye on any current affairs which could have an impact.
However, there is one savvy way holidaymakers can lock in a good rate if they catch one.
Travel Money Cards allow users to load money onto a specialist debit card, maintaining the exchange rate at the time of purchase.
Ian Strafford-Taylor, CEO of international money specialist Equals advises: “The safest way to guarantee getting an exchange rate you’re happy with is to lock-in the rate on a prepaid card when the pound is doing well.
“It also means you avoid losing money when you return from your trip and have to change any leftover cash back into pounds if the exchange rate has worsened.”
Money Saving Expert Martin Lewis is in agreement, explaining this could be an ideal way to keep tabs on your holiday spending.
“If you normally spend abroad on debit or credit cards, while the providers get near-perfect rates, most add up to three percent non-sterling exchange rate fee’ on top – meaning something that costs £100 costs you £103,” Lewis explained.
“Yet specialist overseas credit cards don’t add that fee, so you get the same near-perfect exchange rate as the providers – smashing bureau de change – in every country, every time you go away.
“Just ensure you pay the card off in full each month to minimise the interest.”
