In light of ongoing currency fluctuations, Asda Travel Money has examined the changes in people’s holiday habits over the past few years.
New Asda Travel Money data reveals some distinct declines in sales for certain currencies. In particular, there has been a 68% decrease in sales of the Turkish Lira and a 77% decrease in sales of Egyptian Pound. “This indicates a decline in popularity for Turkey and Egypt, with substantially fewer travellers heading to these destinations versus last year”, it reports.
Perhaps informed by this trend however there has been an increase in passengers heading to other destinations such as Dubai, Abu Dhabi, Thailand and the Czech Republic as indicated by a significant increase in year-on-year currency sales for these locations.
In the last year, Asda Money has seen an 84% rise in sales of the UAE Dirham, a 96% increase in sales of the Thai Baht and a 93% rise in sales of the Czech Koruna. This increase comes even though exchange rates for these destinations have decreased year on year. Asda Travel Money data shows the Pound is down -5% to the UAE Dirham, and the Czech Koruna by -11% meaning that holiday-makers are not getting as much bang for their buck compared to a year ago.
Neil Foster head of Asda Travel Money said: “Our customers don’t seem put off by the poor exchange rates for certain countries. This suggests a shift in appetite for holiday destinations. Families do still need to consider getting the best value for money to the increasingly popular holiday hot spots, even when exchange rates aren’t at their best.”
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