The holiday destinations around the world where the British pound will stretch the most and the least have been revealed – and it’s Argentina that currently offers the best deal for Brits.
It tops a ranking of best-value places in which Ethiopia comes second, Nigeria third, Egypt fourth and Malawi fifth.
Countries where the pound is weaker include Kenya, Sri Lanka and Thailand, according to the study, by NetVoucherCodes.
The Internet marketing service explained that it drew up the tables by pulling in monthly exchange rate data from each major currency around the world and comparing its strength to the pound.
It explained that the pound is up 199 per cent in first-placed Argentina, meaning that for every one pound you can get 1,276 Argentine pesos. NetVoucherCodes added: ‘The country has seen multiple instances of devaluing its currency due to economic issues, so Brits looking for a cheap holiday where they can sample some of the best wine in the world and go on breathtaking hikes need look no further.’
In second-placed Ethiopia, the pound is up 130 per cent against the Ethiopian birr. Third-placed Nigeria sees the pound up by 120 per cent against the Nigerian naira.
In fourth-placed Egypt, the pound is up 67.7 per cent against the Egyptian pound, explained NetVoucherCodes. It added: ‘Egypt has long been a hotspot for Brits looking to soak in some winter sunshine and boasts some of the best historic landmarks in the world. The data reveals that now might be a good time to visit.’
Fifth-placed Malawi, one of ‘Africa’s top safari-hotspots’, also offers a ‘better value holiday’ in 2024, with the pound up 60.6 per cent against the Malawian kwacha. NetVoucherCodes added: ‘The country has 11 national parks and wildlife reserves, making it one of the best places to see African animals on the planet.’ However, it warned: ‘Travellers are unlikely to see the benefit of a strong pound when booking a safari from a UK provider, and may be best booking their own itinerary to see true savings.’
The holiday destinations around the world where the British pound will stretch the most and the least have been revealed in a study by NetVoucherCodes. This map is a colour-coded guide to where the pound is strong and weak, with the darkest green colour indicating where the pound has had the strongest rise and yellows and reds where the pound is weakest
The pound is up 199 per cent in first-placed Argentina, meaning that for every one pound you can get 1,276 Argentine pesos
Turkey lands inside the top 10 in eighth place, with the pound up 28.2 per cent against the Turkish lira. NetVoucherCodes explained: ‘Turkey has seen the lira’s strength tank against the pound in the past year. This makes it the perfect time to visit the vibrant city of Istanbul, with its blending of cultures and mouth-watering food.’
Meanwhile, the pound is also up in several other popular holiday destinations such as the USA (up five per cent compared to 2023), Australia (3.36 per cent) Mexico (19 per cent), Brazil (24 per cent), India (six per cent), Hungary (nine per cent) and Czechia (five per cent). The pound has also gained minimal strength against the Euro (two per cent).
Where the pound is weaker
The biggest fall in strength for the pound over the past year has been in Kenya – it’s down nine per cent against the Kenyan shilling. NetVoucherCodes explained: ‘The Kenyan shilling has been gaining strength against the British pound over the past year. This appreciation means that British tourists will find their pounds won’t go as far as before, meaning the cost of travel-related expenses such as accommodation, meals and activities in Kenya will be higher for Brits.’
Sri Lanka ‘is also starting to become more expensive for Brits’, warned NetVoucherCodes as the pound has fallen by five per cent against the Sri Lankan rupee. It explained: ‘Over the past year, the strength of the pound has decreased against the Sri Lankan rupee, seeing an initial increase over the past couple of months, but dipping again sharply at the beginning of November.’
The pound has also fallen by 0.6 per cent against the Thai baht, making popular Thailand a little pricier for Brits in 2024. NetVoucherCodes explained: ‘From November 2023 to November 2024, the Thai baht has increased in value against the pound by 0.69 per cent. While this is just a slight increase, does this spell a trend for the tropical paradise becoming more expensive for Brits?’
If you have booked a holiday to a destination where the pound has fallen, Rebecca Bebbington, personal finance expert at NetVoucherCodes, has shared her top tips to keep costs low while travelling.
She said: ‘My ultimate tip for travellers is to consider using a credit card that doesn’t charge you when abroad such as a Wise card. These cards allow you to hold multiple currencies in a single account, avoiding hefty conversion fees when spending money at restaurants or taking money from an ATM. It uses real exchange rates and comes with a user-friendly app for tracking spending and setting budgets.
‘Travellers should also be mindful of sneaky ATM charges when withdrawing cash. Always opt for local currency withdrawals and decline the offered conversion rates, which often include hidden fees. Use Google Maps to find ATMs that are reviewed highly and offer lower fees, and try to withdraw larger sums less frequently to reduce fixed ATM fees.
Thailand has become slightly more expensive for Brits over the past year, with the pound down by 0.6 per cent against the Thai baht
‘One of the best things you can do is avoid exchanging money at airport kiosks, which can give you a terrible exchange rate and charge you astronomical fees. Instead, exchange money at reputable banks or services in the city, or use ATMs in less touristy areas.
‘It’s a good idea to understand the exchange rate before you travel to avoid overcharges and make informed financial decisions. Currency conversion apps can provide real-time updates.
‘Before you buy anything, find out about any potential card fees in advance. Some merchants may impose surcharges for card payments without telling you, so knowing this can help you decide whether to use your card or pay with cash.
‘Staying informed about potential fees helps you manage your budget effectively and avoid unnecessary expenses.’