Riding the crest of the Aussie Dollar wave

On September 21, 2010 at 12:00 AM

Expedia reveals the top travel destinations where the Australian Dollar goes furthest

Leading Australian travel website Expedia.com.auTM, operated by Expedia, the world’s largest online travel company, in conjunction with foreign exchange specialist HiFX, has released its latest Expedia® Foreign Exchange Index as the Australian Dollar continues to perform robustly against the world’s major currencies.

The twice-yearly index, which reveals the top international destinations where Aussie travellers find the best value for their Australian Dollar, found that Eastern Europe has again emerged as a great value holiday destination, with six of the top ten destinations located in that region.   

Hungary, whose currency, the Forint, has fallen almost 28 per cent against the Australian Dollar in the last twelve months, has emerged as the country currently offering the best value for money for Australian travellers, followed by Latvia whose currency fell almost 28 per cent against the Aussie Dollar in the same period. The Australian Dollar has also appreciated by almost 23 per cent against the Euro, making Europe, always high on the holiday wish-list for Australians, an excellent value-for-money destination.

The results present a startling contrast to the Expedia Foreign Exchange Index issued in October last year. The Euro and the Danish Krone are the only two currencies which remain in the top ten year on year.

Even though the Australian Dollar has climbed recently against the US Dollar, meaning the US, always a hugely popular holiday destination among Australians, currently presents travellers with outstanding value for money, the popular destination did not rank on the latest Expedia Foreign Exchange Index.

Louise Crompton, Marketing Manager at Expedia.com.au, comments: “With the Australian Dollar performing so well, there is now more choice than ever for Australians looking to travel internationally. While Eastern Europe has offered Australian travellers good value for money for some time now, with the gaining strength of the Aussie Dollar in that part of the world, these destinations are a ‘must-see’ when travelling to Europe.”

For Aussies looking to travel within the Asia Pacific region, Vietnam is the pick of the bunch, scraping in at tenth position, after seeing its currency fall by almost 19 per cent against the Australian Dollar over the last year. Popular Aussie holiday destinations such as Thailand, Bali and Malaysia still represent great value for money as their currencies have remained relatively stable against the Aussie Dollar.

Nick Brain, Consultant at HiFX, comments: “‘The Australian dollar continues to strengthen thanks to an impressive economy that seems to be resilient to global economic woes. This is obviously great news for Australian travellers looking to head overseas.”

The top fifteen currencies against which the Australian Dollar has performed best in the past twelve months:

 

 

Best value destinations to visit based on how the Australian Dollar (AUD) has performed against major currencies in the past 12 months*

 

 

Rank

Currency

AUD Percentage Gain

 

1

Hungary(Forint)

+27.66%

 

2

Latvia(Lat)

+23.54%

 

3

Denmark(Krone)

+22.57%

 

4

Bulgaria(Lev)

+22.52%

 

5

Eurozone (Euro)

+22.48%

 

6

Romania(Leu)

+21.79%

 

7

Croatia(Kuna)

+20.91%

 

8

Morocco(Dirham)

+20.13%

 

9

CzechRepublic(Koruna)

+18.71%

 

10

Vietnam(Dong)

+18.70%

 

11

Great Britain(Pound)

+14.61%

 

12

Norway  (Krone)

+12.64%

 

13

Argentina(Peso)

+12.02%

 

14

Sweden(Krona)

+11.52%

 

15

Turkey(Lira)

+9.50%

 

 

Expedia.com.au top tips to help you get even more from your Australian Dollar:

  • Book your flights, accommodation and car hire as a package on a one-stop-shop website like Expedia.com.au to receive even bigger discounts.
  • Check hotel reviews by fellow travellers on Expedia.com.au; this will provide great insights into which hotels offer good value for money and help you pick the right hotel for your trip.
  • Research and book on websites like Expedia.com.au which, as well as having more choice, do not charge flight booking fees or fees for changing or cancelling flight and hotel bookings.
  • Don’t exchange your money for the local currency at the first available exchange; shop around to get the best value for money.

 

Source: HiFX (www.hifx.com.au) *15/09/2009 – 15/09/2010

 

For excellent packages and special deals to any of these locations, visit www.expedia.com.au   

To download this release, please click here:
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