Travel costs barometer reveals eurozone price decrease

The latest Holiday Costs Barometer research from Post Office Travel Money reveals that prices have plunged in top eurozone destinations, meaning UK travellers will get better value on their foreign currency this year.

Prices have dropped by 40 per cent in Portugal, the cheapest destination in the survey, with the barometer basket for typical holiday travel money purchases in the Algarve coming in at just £38.67. This is good news for UK holidaymakers who will be able to make their travel money go further.

With the exception of Italy, prices are currently lower in all eurozone countries surveyed by Post Office Travel Money than they were in 2009. Portugal, Spain and Bulgaria also offer a good deal for UK travellers wanting to spend their foreign currency wisely.

Meanwhile, the report revealed the US as the most expensive destination surveyed, with the basket costing £99.56, according to recent foreign currency exchange rates. UK holidaymakers in the US will need to plan ahead to ensure they get the best value out of their foreign currency as the basket has increased by 34 per cent this year.

Sarah Munro, Post Office Head of Travel Money, said: “The good news for UK holidaymakers planning trips to the eurozone is that the Holiday Costs Barometer reveals cost reductions in most of the eurozone destinations.”

This is great news for UK holidaymakers who will be able to really make their foreign currency go further this year as they head to Europe during the holiday season with their travel money.