Find out the best countries to spend your Australian dollars and get the most out of it.
If you are heading overseas, the Australian Dollar is going to have a big influence on how much the trip costs.
Travel money, accomodation, hire cars and local tours all get more expensive when the exchange rate goes down and cheaper when the exchange rate goes up.
For example, an average hotel in London 12 months ago would cost you about 150 pounds a night or $303 Australian Dollars.
This year, the same hotel will cost $257 dollars thanks to a better exchange rate. That works out to be 15% savings a night.
In the last 12 months, here is how the Australian Dollar (AUD) has performed against the most popular destinations:
|Destination||Currency||Rate in Jan 2016||Exchange Rate Now||% Change|
The Savings & Cost Of A $5000 Holiday At These Destinations
|Savings for a $5000 holiday||Cost for a $5000 holiday|
|The UK – $1,162||Brazil – $841.32|
|China – $509.55||New Zealand – $197.84|
|India – $351.95||Japan – $115.89|
|Europe – $267.08||Canada – $20.34|
|The US – $213.48|
|Singapore – $202.79|
|Thailand – $172.35|
|Indonesia – $94.73|
|Fiji – $19.63|
Top 3 Holiday Destinations to Get the Most Bang for Your Buck
1. The United Kingdom
The Australian dollar is more than 18% higher against the British Pound over the last year, largely thanks to Brexit.
While it has been an economic disaster for residents of the UK, Brexit has given Australians the chance to visit. The AUD/GBP is close to a 4-year high making it the best time to visit the country since 2013. Local business owners and tourist operators are keen for business so it’s even easier to get a great deal on hotels, cars and local tours.
According to the Australian Bureau of Statistics, in 2015/16 China was second most popular source of travellers to Australia, with 1.2 million visitors even though it’s now better value for Australians to go to China.
Since the start of 2016, the Australian Dollar has appreciated more than 10% against the Chinese Yuan (also know as the Renminbi) making it an ideal time to visit the worlds most populous nation.
Like China, India has a currency that is tied closely with the US dollar. As a result, the Australian Dollar has also benefited from US dollar weakness.
Compared with the start of last year, Australians now receive 7% more Indian Rupees for their Australian Dollars when exchanging currency.