3 countries where the Aussie dollar goes furthest
When you travel, it’s always a shame to see your hard-earned dollars disappear from your wallet faster than expected. The solution to this is to change your travel habits and take trips to places where the Australian currency goes furthest.
Some may shiver at the thought of travelling on a budget, so instead of actively watching your spending, book a holiday in one of these countries. You can spend just as much, but get way more value when travelling overseas.
- The UK
If there was ever a perfect time for a shopping spree in London, this is it. The UK has always been a popular destination for Australian travellers, but after the Brexit vote in June, the GBP/AUD rate dropped from 1.95 to 1.69. Smart travellers immediately booked flights, which were unprecedentedly cheap.
The time to take advantage of this exchange rate is right now, as the pound is slowly recovering. Exchange rate statistics currently show the GBP at 1.73 (as at September 2016), which is still a far cry from where it once was.
Back in February, Bloomberg reported the Mexican peso had fallen to a record low. Along with Brazil and Russia, Mexico took a hard hit due to the plummeting oil prices.
After a terrible first half of 2016, Mexico seemed to be recovering very slowly but surely. Then, Brexit happened and it undid all the peso’s progress. It dropped to a new record low, and the Australian dollar shot up 14 per cent against the Mexican peso.
Greece’s debt crisis is one of the worst Europe has ever seen. After Wall Street imploded in 2008, Greece became the epicentre of Europe’s financial crisis. By spring 2010, Greece was veering towards bankruptcy when Europe issued international bailouts totalling $355 billion.
While Greece is still recovering from these trillions of dollars in debt they’ve accumulated in the last couple of decades, there is a way you can help them while helping yourself – by travelling there. For Greece, every tourist dollar counts.
Yes, the currency is the Euro and the Australian dollar conversion rate isn’t necessarily crushing it, but the cost of travel to Greece has taken an incredible dive. Islands like Santorini and Mykonos offer incredible views and affordable accommodation.
Despite their economy still being in freefall, Greece is an incredible destination to travel altogether. The Acropolis, the Parthenon, the beautiful islands and delicious food – all currently for a fraction of the price.
If you’ve caught the travel bug and want to go right now, you can get there faster is by considering a personal loan. This way your travel plans can be as flexible as you’d like them to be.
Exchange rates are subject to fluctuations, please check current rates before booking your holiday.