Your money will go much further Down Under, leaving you to enjoy a better quality of life
The slump in the value of the pound means that holidaying overseas can be a pricey proposition – the pound has depreciated by 38% against the US dollar since last March and the euro by 17%.
However, in Australia the pound still goes a long way, meaning that when it comes to choosing your next holiday, Australia is a good option.
“The pound can now buy an Australian dollar at a higher level than last year, along with the Icelandic krona, the Mexican peso, the Seychelles rupee, the South African rand, the Swedish krona and the Turkish new lira,” says Dan Hart, founder of travel search engine nowfly.co.uk. “Coupled with the most aggressive air-fare war we have seen, these destinations must be high on the list for those seeking a good value break.”
You can now secure return fares in May on Middle Eastern carrier Emirates Airways from London to Perth via its hub in Dubai for just £535, while Etihad Airways are offering return fares from London to Sydney at £584 and Royal Brunei Airlines are selling fares to Brisbane for £554 return.
“A year ago, you would have been looking at paying at least £700 for flights to Australia but the introduction of the huge Airbus A380 on the Sydney route by Qantas and Singapore Airlines, coupled with a downturn in demand, has led to the appearance of these unbelievable fares all across Australia,” explains Hart.
Not only does the exchange rate look good for those seeking to holiday Down Under, but it’s also important for those looking to relocate.
Australia offers a cost of living which is 22% lower than in the UK and research recently published by Foreign Currency Direct reveals that Brits living down under are enjoying a far lower cost of living than those in Europe.
“Relative to the euro, exchange rates between the pound and the New Zealand and Australian dollars have remained surprisingly stable over the last six months,” says Peter S. Ellis, chief executive of Foreign Currency Direct. “Coupled with an overall lower cost of living, and the promise of sun, sea and scenery, Australia and New Zealand are becoming increasingly attractive destinations for British expats.”
The top 10 countries where Britons would most like to own a property, and the percentage in cost of living compared with the UK:
New Zealand -32.72
Australia         -21.82
Italy               -13.55
Cyprus           -  7.58
Canada         -  1.37
Greece          + 3.23
US                 +  4.68
Spain            + 11.54
Portugal        +13.02
France           +34.29
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