The result of the general election may have resulted in confusion at Westminster but it had one very clear impact – travelling outside the UK will now be more expensive.
The pound has dropped by an average of 2 per cent against 158 currencies around the world after Thursday’s vote resulted in a hung parliament.
Sterling had already fallen dramatically since last year’s EU referendum. The pound is down 13 per cent against the euro and down 14 per cent against the dollar - meaning, in real terms, you get €167 or $209 less for every £1,000 exchanged, compared to what you'd have got this time last year.
Ian Strafford-Taylor, CEO of FairFX, said: “The markets don’t respond well to uncertainty and the political ructions of the last few weeks have led to fluctuations in the strength of the pound.
“A hung parliament signals uncertainty. Therefore, we could see a continued volatile path for the pound with swings against global currencies until an agreement is reached and we know exactly what this means.”
But while the US and much of Europe are now more expensive than ever, some countries still offer good value for UK travellers. We’ve found seven destinations where, despite sterling's recent battering, local currency is down against the pound.
Canada: down 4 per cent in six months
The Canadian dollar isn't quite as successful as Justin Trudeau - it has fallen by 4 per cent against the plummeting pound over the last six months, and is now 7 per cent weaker compared to four years ago. Getting there isn't as pricey as you might expect, either; a return flight to Vancouver from Manchester this month costs £430 with Air Transit, and passengers travelling from London – Vancouver in October can pick up a return from £392 with Westjet. Head to Whistler for some autumn skiing - four-star hotels average from £80.
Argentina: down 46 per cent in two years
The pound goes a whopping 46 per cent further than it did two years ago in Argentina. Exchange £1,000 today and you'll get 6,387 more Argentine pesos (worth £315) than you'd have received in June 2015. Use this windfall to explore Buenos Aires, which recently opened the Casa Rosada presidential palace up for visits; then use your extra plata to continue to the vineyards of Mendoza, bucket-list Iguazu Falls and the wilds of Patagonia. Return flights to Buenos Aires from £625 with Turkish Airlines.
Egypt: down 45 per cent in a year
Although the Foreign Office advises against all non-essential travel to Sinai, and Sharm el Sheikh air links are still on hold, Cairo, Alexandria, the tourist areas along the Nile river (including Luxor, Qina, Aswan, Abu Simbel and the Valley of the Kings) are all OK to travel to - as is Sharm itself, if you can get there. You will get 22.87 Egyptian pounds for every £1, up from 12.48 a year ago. Return flights to Cairo start from £189 with Alitalia.
Azerbaijan: down 51 per cent in 18 months
The currency of this Central Asian country dropped through the floor in December 2015 when the government abandoned its peg to the US dollar. Today, £1 will get you 2.15 manats. Baku is surging in popularity with travellers, thanks to its walled medieval old city sitting next to a shiny new one with golden skyscrapers and a Zaha Hadid-designed cultural centre. Or you could explore further afield and visit its active mud volcanos and resorts on the Caspian Sea. Return flights to Baku from £205 with Azerbaijan Air.
Turkey: down 6 per cent in a year
Turkey is still under a state of emergency, but the vast majority of the country (including tourist areas) is "green" on the Foreign Office map, which advises travellers to “be vigilant and avoid demonstrations” while on holiday. You will get 4.48 Turkish Lira for £1, an increase from 4.2 last year, which you could take to explore Istanbul’s historic city centre or head out to the beaches. Return flights to Istanbul from £86 with British Airways.
Brazil: down 9.5 per cent in three years
It may be a long-haul flight away, but thanks to a crashing economy, Brazil's currency is down against the pound: today you'll get 4.2 reals for every £1, up from 3.8 three years ago. (Pre-election it was even better - you'd have got 4.9 reals.) There's Rio, of course, São Paulo is growing steadily for tourists, and for those after a beach holiday its 7,000 miles of coastline feature some of the world’s best tropical stretches - like Trancoso. A four-star beachfront hotel in Rio averages from around £80. Return flights to Rio start from £526 with Alitalia.
South Africa: up 19.6 per cent in a year
Sterling is down against the South African rand from this time last year (£1 gets you 16.27 rand today, compared to 20.24 last June), but as South Africa has its own currency crisis right now, the destination still provides great value. Its Big Five game reserves offer some of the most affordable safaris on the continent, South African wine country is as beautiful as ever, and Cape Town, Johannesburg and Durban are going from strength to strength as city breaks. Return flights to Cape Town start from £433 with Turkish Airlines.Reuse content