Don't be fooled by the Dollar

DONT be seduced by reports of the dollars great value against the Pound a study out this week discovers the US is STILL one of the most expensive places to head on holiday.

The Post Office Holiday Costs Barometer found that although the exchange rate is great for picking up electronics and jewellery at a discount, everyday necessities are often expensive.

Consumers may save on iPods, laptops and designer clothes but the added cost on essentials like water, beer and suncream may eat away the savings.

The Post Office checked prices of ten basic items in favourite holiday destinations and found the America was the MOST expensive, with costs totalling 69.41.

The cheapest destination was Bulgaria, whose total cost for all ten items was only 16.86 a 52.55 difference.

A 1.5-litre bottle of Evian water is almost three times more in the US than in any other country surveyed, and is 15 times more expensive than in Egypt.

But the States does have the second cheapest prices for rental cars.

Greece has the most expensive cup of coffee at 2.14 a cup, while the least expensive bottle of beer can be found in Egypt.

In Thailand, a bottle of Coke and a daily newspaper are only 48p each.

In the euro zone, Portugals shopping basket total of 33.65 put the country in fifth place overall but made it noticeably cheaper than the other euro countries surveyed.

Spain and France were almost twice as expensive.

Greece was the cheapest holiday resort in the Eastern Med, at 41.06 for the ten items, just pipping Cyprus and Turkey at the post.

Post Office head of travel services Kevin McAdam said the Holiday Costs Barometer was a useful guide to pricing abroad but warned: You have to be careful when comparing costs in different countries.

It all depends on their relative cost of living and it pays to be aware that favourable currency rates like those currently available for the US dollar do not necessarily mean a destination will be cheap.

Its useful to compare the costs across Europe. Our barometer proves that one currency does not mean one cost.

From: www.thesun.co.uk

Read More...

[Source: Forex - Its own business! - Posted by FreeAutoBlogger]