Recent research by Thomas Cook shows that Brits are paying far more for currency than they need to, all because they don’t take the time to understand the country they are visiting and what kind of prices to expect before they go.
In a survey of 12,000 holidaymakers, 28% admitted that they had no idea how much currency to take with them as they didn’t have a clue how much things would cost when they got there. While a quarter admitted overspending on items because they didn’t know how much they were worth in English money.
8% of those surveyed confessed to taking no currency with them whatsoever, relying on changing it in resort, leaving them open to hidden fees, card and ATM charges. One in three said they had not taken enough and paid over the odds to withdraw money whilst abroad.
Many tourists admitted that currency was often the last thing they thought about before travelling, not leaving enough time to think about how much they would need.
Thomas Cook estimated that half of the people surveyed would be paying more for their currency due to credit and debit card charges incurred whilst in resort.
It is extremely important to plan ahead before any trip and doing a little research could go a long way to saving you money. Ask your travel agent when you book how much to expect to pay for things like drinks and meals to help you plan your budget.
The internet is an excellent place to research your destination and travel forums will put you in touch with people who have stayed in the same resort and even the same accommodation as you, they can offer the best advice on how much things cost and where to shop or eat for the best value.
Knowing in advance how much you are likely to spend on food, drink and excursions, and being able to work out its worth in English will ensure you get the best value for your holiday cash, that you are not being ripped off, and most importantly, how much you should take with you.
Destinations outside the euro zone are currently offering the best value as the euro is very weak against the British Pound at the moment. Bulgaria, Turkey and Croatia offer great value exchange rates while Gambia and Egypt holidays are ideal winter destinations offering the best value for your well earned money.
Take the time to research your destination and with a little forward planning, you can make your holiday money go a very long way.
