Brits can still bag bargains for a bumper New Year

Date: 23 Dec 2009

Brits still looking to get away to see in the New Year can take advantage of the strengthening Pound and some red hot last minute deals if they head to Dubai, the Big Apple or Jamaica, says leading foreign exchange specialist, Travelex.

Dubai is being touted as the bargain hotspot for travellers in 2010 following the dramatic economic downturn in recent weeks. This has seen Brits snapping up discounted deals and with the Pound increasing in value by more than 7% against the Dirham compared to this time last year, Brits will be 195 Dirham better off this year for every £500 they buy, which could buy you a three course dinner. Travelex.co.uk has already seen demand for the Dirham increase by over 10% compared to this time last year.

Dubai has become renowned as a shopping mecca during the ‘Noughties’, but the recent events have seen retailers slashing prices – a coup for those looking to snap up some bargains. And as a double bonus for Brits this is the ideal way to catch some winter sun and escape the chilly weather at home.

New York is a perennial favourite New Year’s party destination, which also provides great value for shopaholics. Whilst recent weeks have seen the Dollar claw back some lost ground against the Pound, travellers will still get almost 6% more than this time last year, as the Pound climbs from $1.39 last December to $1.56 this December. In real terms, this means Brits will be able to pocket almost $80 more than last year for every £500 they buy – enough for a nice bottle of bubbly to celebrate the New Year!

But if relaxing by the tropical waters of the Caribbean is more your style, then Jamaica is the top tip from Travelex. The Jamaican Dollar is providing a staggering 24% more value for Brits than this time last year, meaning travellers exchanging £500 will receive an extra $12,590, the equivalent of an extra night in a three star hotel!

Julian Neal, Director, Travelex said: “We urge travellers to consider destinations where they will get great value for their money, as heading off over the New Year peak period can prove costly. The value of the Pound against the Dirham and both the US and Jamaican Dollars means travellers will be much better off compared to this time last year.”

“To ensure travellers really maximise their money, we advise planning ahead to get the best deal on their currency. Updated daily, Travelex.co.uk offers a Price Promise guaranteeing to beat other currency providers, with the best price foreign currency, commission free, or the difference refunded. Travellers can also opt to pick up currency at the airport or have it delivered directly to their home. For travellers heading to the United States, they should take advantage of Travelex.co.uk’s unrivalled four hour pre-order service on US Dollars.”

Ends

About Travelex

Founded in 1976, Travelex is the world’s largest non-bank foreign exchange and payments specialist; with operations across four continents and 6,000 employees worldwide.

Travelex holds key positions in its three main areas of activity: Global Business Payments (TGBP, which includes Travelex Personal Payments), Currency Services and Card and Mobile Payments. Every year, more than 35,000 corporate clients and 30 million customers trust Travelex to manage their foreign exchange requirements.

Recently recognised by TowerGroup research as Industry Leader for payments innovation for SMEs, Travelex currently handles international payments for over 750 large corporate and financial institutions.