Thanks to the high Aussie dollar and the low GBP, a trip to the 2012 Olympics offers a whole lot of bang for its buck. The message from the Currency Experts is to take advantage, as it may not get better than this…
Just a few short weeks ago, Aussie sports lovers were cheering and whooping, and making their get-away plans as a trip to the 2012 Olympics got cheaper by the day when the dollar hit a 27-year high against the British pound and rose to almost 68 pence overnight – the highest since 1985, with near record highs on the euro.
And while there is NO QUESTION that the strong Aussie dollar is still soaring ahead, it is a sign, according to currency analysts, who say the record run may well be near its peak – the message is, don’t expect it to get better than this.
Either way Aussies are in an enviable position with the dollar-pound exchange rate which has almost doubled in the past three years.
At the time of printing for roughly $3,000 spending money for the Olympics, you will get 2,004.65 GBP compared to three months ago where $3,000 would only get £1,860. For the same amount of Aussie dollars, you will get 2,410.34 EUR.
So for Australians still pondering that trip, or snapping up that sexy accommodation package at the Ritz, now is a good time to act. If you’re risk averse and want to plan your spending, you might consider buying your GBP and Euros in advance.
Best of all, there will be lot more spending money for the record numbers who make the UK trip which, according to the Travel Trends Report for 2012, Aussies will have highest numbers. They will no doubt show their passion for all things sport by spending loads of cash, which will have a massive impact on British tourism. C’mon Aussie!
All well and good, but what effect it will have on us…
The knock on effect is that Australia is experiencing a resurgence as a popular destination among British travellers. And while reports say that Londoners are 11% more likely to stay at home for Olympics than expected, those who are leaving are headed our way with an increase of 23 per cent among Britons searching for flights to Australia, the place British travel experts have hailed a “fast rising exotic location”. Couldn’t have said it better myself!
Great news if you’re looking to embark on a Home Exchange program during your trip to the Games as there will be plenty of Brits looking at that option – and why not? It’s one of the most cost-effective accommodation solutions around.
Finally, while the strong Aussie dollar will make the trip so much more affordable, financial experts warn to prepare for the inevitable Olympic Tax on absolutely everything – from your diet coke to Jimmy Choos. You’ve been warned!