5 CHEAP TRAVEL DESTINATIONS IN 2020
One of the benefits of trading stocks for a living is that we’re always up to date with the global economy and the impact that it’s having on the currency of some of the most popular travel destinations around the world.
This knowledge is great for anyone who’s thinking about travelling this year as all trips cost money and most will need to be paid for with foreign currency.
So, if you want to visit somewhere new without breaking the bank, choosing a country with a weak currency will = a better exchange rate, a better value trip and, for full time travellers like us, more time abroad for your money!
Based on the current foreign exchange rates, here is our list of the 5 best value holiday locations where you can get more for your money in 2020:
1. ARGENTINA (£1 = 80 ARS, $1 = 60 ARS, €1 = 67 ARS )
The home of Malbec, steak and capybaras (aka giant guineapigs!!!) has been on our bucket list for a while now and it couldn’t be a better time to go as you currently get TRIPLE the amount of Argentinian pesos for your £ vs this time 2 years ago (£1 = 27.63ARS in February 2018).
The country has been in a brutal recession for almost 2 years and, with interest rates in the country continuing to soar, many Argentinian citizens have panicked and started to convert their savings into US dollars or cryptocurrency. As a result, the amount of peso’s that your £ gets you has increased 7x over the past 5 years and up to 6x against currencies including the $ making it a bargain for travellers across the world in 2020!
2. TURKEY (£1 = 8 TRY. $1 = 6 TRY, €1 = 6.5 TRY)
Whether it’s sunbathing on beautiful beaches, relaxing in Turkish baths or exploring magical mountains and cave hotels that you’re after, Turkey has it all, and for cheap!
Due to factors including increasing levels of government debt, high inflation rates and US sanctions on Turkish exports, you can currently get 50% more Lira for your £ than you would have gotten 2 years ago (5.5 TRY to the £) and 100% more compared to 5 years ago. In other words, you can stay in Turkey for double the amount of time in 2020 than you could have in 2015 for the same price!
3. SRI LANKA (£1 = 235 LKR. $1 = 182 LKR, €1 = 196 LKR)
Sri Lanka was without a doubt our favourite travel destination of 2019. What could be better than white sand beaches, unspoiled jungle and some of the friendliest locals that we’ve ever met? The current price of the Sri Lankan rupee is what!
Following a series of terrorist attacks in 2019 that brought Sri Lanka’s tourism to its knees, the strength of the Sri Lankan rupee dropped by 10% compared to the £ (£1 = 210 LKR in 2018).
Furthermore, in an effort to revive the travel industry, Sri Lanka has slashed airfare prices and reduced hotel costs by up to 60% making it surprisingly good value to travel to this slice of paradise this year.
4. EGYPT (£1 = 20 EGP. $1 = 15.5 EGP, €1 = 17 EGP)
If culture and history is what you’re looking for in 2020, you've found it in Egypt. One of our ideal travel destinations and home of the pyramids, the Luxor temple, desert safari and red sea diving!
Following one of the worst recessions on record, an unstable political system and a decision to float its currency in 2016, the Egyptian pound has nosedived. Despite finding some stability in the past few years, you can still get almost double the amount of Egyptian pounds for your British pound compared to 5 years ago (£1 = 11EGP in 2015).
5. THE UNITED KINGDOM ($1 = £0.77, €1 = £0.83 )
Unfortunately for us Brits, following the shock decision to leave the EU by a 52% majority (that definitely didn’t include us), the British economy along with the value of the pound have plummeted to record lows since 2016.
For those of you lucky enough to be earning other well performing currencies such as US dollars or Euros, it’s one of the cheapest times ever to purchase the £ and visit the UK! You can now get 20% more £’s for your $ and 15% more £’s for your € compared to 5 years ago meaning that there couldn’t be a better time for a sight-seeing filled city break in our hometown of London, fish and chips at Brighton seaside, a spa break in Bath or a summer of non-stop entertainment at Edinburgh fringe than now.
And for those from the UK, seeing more of our country has never been more appealing (and cheaper than transferring our money to any other currency right now!).
Although these aren’t the cheapest countries in the world, they are currently much better value to travel to than they have been in the last 2-5 years. So, if you’ve ever wanted to visit any of these destinations, now is the time!