All-round sunshine holiday hotspot just five hours from the UK is cheaper than EVER after local currency value plummets
BRIT holidaymakers are flocking to Egypt after a crash in local currency sent prices plummeting.
The dramatic fall in the Egyptian pound means travellers are now getting more value for money.
It comes following a report analysing the prices of eight popular items typically bought on holiday was released.
The Post Office research showed holidaymakers would pay 17.5 per cent less for essentials such as food and drink compared to last year.
On average, Brits visiting Sharm el-Sheikh are looking at a total cost of £73 for a three-course meal for two with wine, a cup of coffee, a bottle of local beer, a can of cola, a glass of wine, a bottle of still water, suncream and insect repellent.
The local currency crash also means travellers buying £500 worth of the Egyptian pound will get £174 more for their money – a 53 per cent rise from last year, The Times reports.
Tour operators say they have seen a surge in Brits booking an Egyptian getaway for some much-needed sun.
Sharm el-Sheikh is the most popular destination after a four-year ban for Brits following the downing of a Russian plane in 2015.
Jacqueline Dobson, president of Barrhead Travel, said bookings to Hurghada and Sharm el-Sheik had both doubled year-on-year – with Cairo also “really accelerating”.
She said: “Egypt is rising in popularity for a few different reasons. Firstly, the value on offer is extremely attractive — both in terms of the currency in destination as well as the value on offer when booking all-inclusive hotels, tours or cruises.
“Secondly, outside the popular all-inclusive resorts such as Hurghada and Sharm el-Sheik, we are seeing a fast-rising interest in touring and cruising holidays.
“For example, bookings into Cairo have quadrupled since last year and river cruising on the Nile is something we are repeatedly getting requests for.”
Affordable luxury five-star resorts have attracted Brits hoping to enjoy endless miles of beaches to Egypt to years.
Sharm el Sheikh’s prime location on the subtropical Red Sea means it is a year-round sunseeker paradise.
The average temperature remains around 22C to 24C but reaches highs of 38C in August.
With a short five-hour flight time, the country is also ideal for those who do not want to travel far for a lavish break.
Ed Dutton of Post Office Travel Money said: “It will pay to be flexible when deciding on a holiday destination.
“The Egyptian pound and South African rand have been losing ground against sterling recently, while Latin American currencies like the Mexican peso and Costa Rican colon have been surging in value.
“Sterling is also continuing to rise and fall against the euro, with no obvious sign of settling into a steady pattern.
“We advise holidaymakers to watch daily exchange rate movements before booking and buy their holiday cash when they see sterling move up against the currency for their chosen destination.”
