It affects everything from how much we pay for our groceries to the cost of petrol, the strength of our economy, and our exchange rates.
It is the latter that is most important for those hoping to go on holiday this year. The relative value of other currencies comparative to ours affects how much we can spend and what we can afford to do when we’re overseas. This means that if you’re looking for the most bang for your buck, here are a few destinations that you might want to consider…
Take a look at the website of a company like AxiTrader, and you’ll see that in recent weeks, the Australian dollar has failed to thrive. Growing bets that our Reserve Bank will cut interest rates in the near future have negatively impacted the health of our currency, and alongside the burgeoning strength of the US dollar, this means that its value has fallen. However, this is not all bad news. It does mean that you can get some great holidaying deals without having to travel overseas, and that the money you do save will go much further than usual.
The United Kingdom
Although our own currency may not be thriving, few economies are struggling as much as Britain’s. Burdened by post-Brexit fears and continuing uncertainty, the country has undergone a tumultuous few weeks, which have seen a new prime minister, a Labour party leadership election, and a cabinet reshuffle in the wake of the nation’s vote to leave the European Union. This means that the pound has plummeted, and that those who choose to travel here can expect some real bang for their buck.
Last but by no means least, why not take a trip around the Eurozone? Although the collective’s shared currency is not currently in dire straits, it has been struggling for a long time, thanks to wave after wave of European crises. Starting with the recession, it has endured everything from the migrant crisis to the Greek crisis, and with Brexit casting further uncertainty over its financial future, now is the time to pay a visit. Exchange rates will be reasonable, and you’ll have a great variety of countries to choose from, from Germany to France to the balmy climes of Spain.
Where will you choose to travel?