Expedia Foreign Exchange Index points Kiwi travelers to Asia
2014 Expedia Foreign Exchange Index points Kiwi travellers to Asia
• Best time to travel to Japan is
now – Kiwi dollar stretches further than any in other
• Asian hot spots dominate top five best-value destinations
• Kiwi dollar gains value against multiple holiday destination currencies
Double digit growth by the New Zealand dollar against many major currencies has expanded the list of great value travel destination choices for Kiwis, with regions like Japan, Indonesia and Australia offering strong purchasing power, according to the 2014 Expedia Foreign Exchange Index.
For the second year running, Japan offers the best overall value for Kiwi travellers as the New Zealand dollar increased by 20.6 per cent in 2013 against the yen, cementing Japan as the must-visit destination for travellers looking to get value for money in a traditionally pricey destination.
Now in its fifth year, the 2014 Expedia Foreign Exchange Index measures the performance of the New Zealand dollar against major global currencies, taking into account foreign exchange rates and inflation.
The 2014 Index reveals the New Zealand dollar gained in value against 12 of the 15 top destinations, an opposite trend to the Australian dollar, which lost ground against 13 of its 15 top destinations for travellers.
Top destinations based on the purchasing power of the New Zealand dollar against other major currencies in 2013*:
|Rank||Country||Local currency||NZD percentage gain YOY|
* Countries ranked in terms of value against the New Zealand dollar taking both foreign exchange rates and inflation into account as at 31 December 2013, compared to rates one year prior. Percentages calculated using fx rate movements.
Georg Ruebensal, Managing Director Expedia Australia and New Zealand, says: “The New Zealand dollar made great strides in 2013, giving Kiwis more choice for great value holiday destinations. It’s great to see such strong purchase power across Asia, Europe and North America – now there’s no excuse for Kiwis not to start working through their bucket list.”
“While the New Zealand dollar currently has strong purchase power across the globe, the currency market is known to fluctuate, which can impact holiday spending. Keeping a close eye on exchange rates, hunting for deals, being flexible with dates and bundling hotels and flights to benefit from additional discounts are also great ways to stretch the travel budget further.”
Interestingly, Kiwis are already choosing holiday destinations with strong purchase power – consciously or not – with demand for destinations like Legian and Kuta in Indonesia and Hanoi, Vietnam experiencing significant YOY increases since the early new year.
Expedia assessed a range of foreign currencies against the Australian dollar over a 12 month period (1 January, 2013 to 31 December, 2013). The percentage rate of change between those foreign currencies was calculated against the Australian dollar. The annual rate of inflation in those countries was then calculated over the same period and then subtracted from the percentage change in the exchange rates. These calculations produced a ranking of countries whose currencies give travellers greater value against the Australian dollar.
Expedia, Inc. (NASDAQ: EXPE), the world's leading online travel company, operates Expedia.co.nz™ in New Zealand. Expedia helps New Zealanders plan and book their travel by providing a personalised service, the latest technology and a wide selection of holiday packages, cheap flights, hotel bookings, car hire, in-destination attractions & activities and travel insurance to suit their travel needs.
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