'Avoid the eurozone' for a cheap package holiday

People planning to take a cheap package holiday this year have been advised to choose a destination outside of the eurozone.

Mark Bodega, director at foreign exchange provider HiFX, noted that the pound is worth "significantly less" now than it was two years ago.

"For example £500 bought you €649 back in October 2008. Now the same £500 only buys you €550 - almost €100 less," he explained.

Mr Bodega added that sterling recently suffered its biggest one-day fall in more than a year due to speculation that the forthcoming general election could result in a hung parliament.

"Whilst a weak pound might be good for the overall economy, it's bad news for tourists hoping to catch some sun," he added.

Some of the destinations where holidaymakers are likely to get more bang for their buck this year include Turkey, Egypt and South Africa.

A recent poll by Travelsupermarket.com revealed that 46 per cent of people consider them to be savvy spenders when it comes to paying for flights and accommodation abroad.

Posted by Jamie Manterfield