Dreaming of spending the holidays overseas but don’t want to break the bank?

Cross the USA off your list in that case, unless you’re happy to pay $700 more in exchange rates than you would have a year ago.

The Australian dollar has fallen nine percent against the USD since the beginning of 2018, which could set you back $700 more for a $10,000 US holiday that it would have this time last year.

So, where should you consider travelling to where you’ll get the biggest bang for your buck?

Patrick Liddy, Head of Foreign Exchange at WorldFirst, said: “Aussies looking for an overseas getaway should consider travelling to destinations such as Europe and Turkey, where our dollar is up against the local currencies.

“For Aussie expats or overseas-born residents travelling or sending money back home for the holidays, it’s important to shop around for the best exchange rates. Fee-free money transfer providers such as WorldFirst offer rates up to seven times[1] cheaper than the big four banks, to help make Aussie dollars go further this Christmas.”

The Aussie dollar is strongest in these top holiday destinations:  

  1. Turkey

If you fancy waking up on Christmas morning to hundreds of hot balloons rising between the mountains, you’re in luck. The Aussies dollar is up 28 per cent against the Turkish lira since November 2017, so a trip to Cappadocia doesn’t have to be a dream. While you’re in Turkey, be sure to pay a visit the Aya Sofya Museum, the white travertine terraces of Pamukkale and of course, experience a proper Turkish bath.

  1. India

Views and food for days in a country rich with culture – but they’re not the only attractive qualities that makes India a top holiday destination for Australians. The Aussie dollar is up 5 per cent against the Indian rupee since November 2017, so now is the right time to travel to this vibrant country. Book a ticket on the The Shatabdi Express and make your way round the Golden Triangle – first stop: Taj Mahal.

  1. United Kingdom

If you’re hoping to catch a glimpse of the Duke and Duchess of Sussex (i.e. Prince Harry and Meghan Markle), or for any UK expats want to travel home for the holidays, now’s the time to book your trip. Since October, the British pound has dropped almost three percent against the Aussie dollar – mostly due to the uncertainty around Brexit.

  1. Austria

Swap the beach for snow-capped mountains and spend the holidays in beautiful Austria. It’s the perfect place for culture vultures to get their history fix and its central European location makes it easy to visit neighbouring countries. Now is the perfect time to head to the continent – the Australian dollar has climbed three percent against the euro since the start of September.

If you’re planning to send money to an overseas bank account in these destinations – perhaps to pay a hotel or to transfer savings to your account back home – make sure you choose the best provider.

Qualities to look out for  include:

– A provider who can offer better exchange rates than the banks
– A dedicated account manager to facilitate your currency transfers
– Fast and secure transfers
– Award-winning customer service
– Ability to make a currency transfer online 24/7
– Global presence across multiple major cities

International money transfer provider, WorldFirst offer all of the above. In fact, WorldFirst even promise exchange rates seven times cheaper than the big four banks – which can save you a lot of money to spend on your trip.

To discover more about how to get the most out of your overseas money transfers, speak to a WorldFirst currency specialist today on 1800 835 506 or visit worldfirst.com.




[1] Based on transfers for sums of AUD100k and AUD200k and the transfer directions include AUD to GBP, AUD to USD, AUD to EUR, AUD to NZD and AUD to SGD.

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