Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


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 country
• 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*:

RankCountryLocal currencyNZD percentage gain YOY
1JapanYen20.6%
2IndonesiaRupiah25.4%
3AustraliaDollar16.0%
4NepalRupee12.4%
5BrazilReal14.4%
6CanadaDollar6.5%
7ThailandBaht6.3%
8IndiaRupee12.3%
9MalaysiaRinggit6.5%
10FijiDollar4.7%
11SingaporeDollar2.7%
12VietnamDong0.5%
13 USADollar-0.7%
14UKPound-2.6%
15EuropeEuro-4.7%

* 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.

Methodology
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.

About Expedia.co.nz
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.
Follow us on Twitter, Google+, YouTube, like us on Facebook or learn more at http://www.expedia.co.nz

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>

BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>


BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Housing: More House Price Gains Expected

House price expectations remain high, with a net 56% of respondents expecting house prices will increase. Fears of higher interest rates are fading, consistent with the RBNZ’s signals this year. Affordability and a lack of houses for ... More>>

TDDA: State-Of-The-Art Drug Testing Laboratory To Open In Auckland

World leading drug testing agencies, The Drug Detection Agency (TDDA) and Omega Laboratories, open New Zealand laboratory More>>

Network: Bigpipe Launches Ultra-Fast Broadband Into Wellington

Bigpipe Launches Ultra-Fast Broadband into Wellington Naked broadband provider Bigpipe has extended its national reach, announcing today, the launch of its unlimited UFB offering into Wellington. The Spark Venture business is giving Wellingtonians the ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news