Tuesday 28 March 2023

Costa Rica Leads Charge of UK’s Fastest Growing Currencies

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25 March 2023 - At The Banks - BCCR

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 Costa Rica has been opened to the British public by a new route this year Credit: © Edwin Giesbers/ naturepl.com/DENDROBATES PUMILIO
Costa Rica has been opened to the British public by a new route this year. Image Edwin Giesbers/ naturepl.com/DENDROBATES PUMILIO

(QTRAVEL) The number of British holidaymakers travelling to the green and lush Costa Rica has soared, according to new research into the UK’s fastest growing currencies.

The value of Costa Rican colon bought by the British public this summer was up 84 per cent on last summer, the greatest increase of any currency purchased in the UK at the Post Office.

Top 10 | Summer’s fastest growing currencies

  • Costa Rican colon – +84% on last summer
  • Brazilian real – +70%
  • Omani rial – +59%
  • Indonesian rupiah – 57%
  • Barbados – 27%
  • Korean won – 23%
  • East Caribbean dollar – 21%
  • Polish zloty – +18%
  • US dollar – +17%
  • Hungarian forint – +16%

The increase is likely thanks to a new direct route launched in May from London to San José. Of course, there is a plethora of other reasons to visit Costa Rica.

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“Costa Rica is the Latin American destination to come within the orbit od adventurous holidaymakers,” said Christopher Dewe from the Post Office. “With gains for Brazil, Chile and Peru as well, there is little doubt that growing numbers of UK tourists are prepared to travel long distances for their holiday.”

The summer index was calculated using currency bought between June and August this year. The Post Office also looked at growth when taking into account the year to date – the Indonesian rupiah topped this table, with 50 per cent growth compared to 2015.

Top 10 | Fastest growing currencies year to date

  • Indonesian rupiah – +50 per cent on last Jan to Aug
  • Costa Rican colon – +46%
  • Brazilian real – +41%
  • Danish kroner – +29%
  • Chilean peso – +23%
  • East Caribbean – +19%
  • Peru nuevo sol – +19%
  • Polish zloty – +19%
  • Icelandic krona – +16%
  • Japanese yen – +16%

Despite the growth of currencies in more niche travel destinations, figures from the exchange show that the euro and the dollar were the bestsellers over the summer, as they were last year. The Canadian dollar was third, up from fifth, followed by the Australian dollar, a non-mover, and the Croatian kuna, up from sixth.
Dewe said: “Looking ahead, we expect Eastern European cities with a great reputation for value to be popular this autumn. But whatever type of holiday they choose, UK holidaymakers will be looking for the best possible return on their pounds and this will come through a combination of competitively-priced holiday packages and low costs in destinations.

Top 10 | Best-selling currencies of the summer

  1. Euro (1st last year)
  2. US dollar (2)
  3. Canadian dollar (5)
  4. Australian dollar (4)
  5. Croatian kuna (6)
  6. Turkish lira (3)
  7. Swiss franc (7)
  8. Thai baht (8)
  9. Norwegian krone (10)
  10. UAE dirham (9)

“It is already clear from currency sales in recent weeks that destinations on the ‘most wanted’ list are those where prices on the ground are low or perceived to be good value and this is further evidence that people are becoming increasingly savvy in their holiday choice.”

Source Telegraph.co.uk, with editing by the Q

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