MEDIA RELEASE

Dollar dazzlers: Top 10 best-value overseas destinations for Kiwi travellers revealed

The Expedia BNZ Travellers’ Foreign Currency Rankings* help

Kiwis find the best value for money in every corner of the globe

Auckland, 17 November 2011 – With the Rugby World Cup over, now is the time for Kiwi travellers to think about their next overseas holiday, where they can bask in the glory of their World Cup win. And, with the recent performance of the New Zealand Dollar and unbelievable travel deals, an overseas trip doesn’t have to be just a dream.

“During the World Cup, Kiwis were on the edge of their seats, thinking about beating the next opponent, not planning their next overseas holiday. Now the excitement is beginning to die down, it is a great time to get energised about an overseas holiday. The Kiwi Dollar has performed solidly over the past year and has made a number of destinations that much more affordable to travel to,” Amee Evans, Marketing Manager, Expedia.co.nz said.

To make it easy for travellers to determine where they can stretch their travel budgets farther, online travel company Expedia, has partnered with Bank of New Zealand, to launch the Expedia® BNZ Travellers’ Foreign Currency Rankings.

The Expedia® BNZ Travellers’ Foreign Currency Rankings compares the performance of the New Zealand Dollar, against the world’s currencies over a 12-month period, to reveal the top 10 best-value destinations for New Zealand travellers.

Turkey ranked at the top of the dollar-stretching list, with the New Zealand Dollar soaring 23 per cent against the Turkish Lira over the last 12 months. The New Zealand Dollar also took flight against the South African Rand (up 17 per cent) and the Hungarian Forint (up 16 per cent).

The New Zealand Dollar performed well in Europe and South America over the past year with Hungary and Poland ranking third and fourth respectively. Our currency climbed 16 per cent against the Forint (Hungary) and 15 per cent against the Zloty (Poland). The exoticness of South America is now within reach with our currency climbing 10 per cent against the Argentine Peso, six per cent against the Colombian Peso and six per cent against the Brazilian Real.

While the Euro, the British Pound and the US Dollar failed to make the Top 10, they are still an affordable option for the value-seeking traveller. In the last 12 months, the New Zealand Dollar appreciated five per cent against the Euro and Pound and four per cent against the US Dollar.

Mike Burrowes, Currency Strategist at Bank of New Zealand, comments, “The New Zealand Dollar has outperformed over the past year primarily due to record high commodity prices for the majority of our agricultural exports.

“Despite the New Zealand Dollar’s recent volatility, the uncertainty of political developments in Europe and extremely low interest rates in the major developed economies, make New Zealand’s high interest rates attractive to foreign investors. This will help to keep the currency well supported over the next 12 months.”

Amee Evans, Marketing Manager for Expedia.co.nz, says: “We are lucky our travel dollars are going further across the world. Combined with the cheap travel deals on offer at the moment, an overseas holiday doesn’t have to cost an arm and a leg.

“Keeping an eye out for sales, being aware of flight booking fees, and being flexible with both your destination and travel dates are other ways travellers can make every dollar count.”

Best-value destinations based on how the New Zealand Dollar (NZD) has performed against major currencies in the past 12 months*

Rank

Currency

NZD Percentage Gain

1

Turkey (Lira)

+23%

2

South Africa (Rand)

+17%

3

Hungary (Forint)

+16%

4

Poland (Zloty)

+15%

5

India (Rupee)

+13%

6

Mexico (Peso)

+12%

7

Argentina (Peso)

+10%

8

Czech Republic (Koruna)

+8%

9

Colombia (Peso)

+6%

10

Brazil (Real)
ends

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