Holidaymakers go further as China becomes new hotspot

China is one of the new destination hotspots for 2007, with thousands of holidaymakers enjoying package holidays to the coast since they were launched earlier this year.

Foreign currency expert M&S Money has already sold over 10% more Chinese currency than it did in the whole of 2006 in response to increased demand for the Yuan Renminbi (expressed as Y or RMB).

As well as travelling further, holidaymakers in China benefit from their travel money going a lot further. The exchange rate – around 14Y to £1 sterling – coupled with the low cost of living in China, means that they are likely to spend only half of what they would on holiday in Europe.

According to the China-Britain Business Council, a meal in a noodle bar can cost as little as 20p. The average restaurant meal in China is only £2 to £3 per person, with the highest prices around £7. Alcoholic drinks aren’t quite as cheap, but at £2 for a beer or glass of wine, drinks still cost less than in bars and clubs on the Costa Del Sol where a single drink can cost up to 25 euros.

James Yerkess, M&S Travel Money Manager, said; “With the trend for long? haul holidays growing at a rate of 9%, the choices for holidaymakers seem endless. When deciding where to go on holiday it’s worthwhile checking out the cost of living, as it can make your holiday money go a lot further.

“Since the launch of package holidays to China this year we’ve doubled our sales of Chinese Yuan at our M&S Manchester and London bureaux de change. We’ve also found that customers are taking advantage of our ‘buy back’ service as they tend to buy more currency than they actually need with prices so low in China.”

M&S Travel Money is available online at marksandspencer.com/travelmoney