Holidays in 2023 – get more bang for your buck

At a time when there’s a cost-of-living crisis to grapple with, most are spending more carefully than ever. Yet taking a break is incredibly important for improving physical and mental health, reducing stress levels – and brightening your mood.

A smart way to approach a family holiday is to check where you’ll get the most value for money. It isn’t just a case of getting a good deal on your accommodation and flight.

Take a look at currencies and exchange rates to help determine where your money will go further, as well as local prices.

Here are seven good value destinations for long-haul and short-haul holidays:

South Africa

Boosted by the South African rand’s fall against sterling in recent months and keen pricing in restaurants and bars, Cape Town emerges as best value in an annual study¹. You can get great value for money on top quality accommodation, food, wine and experiences, with prices down 1.6%¹.

Once Cape Town has been explored, safari is perhaps the most sought-after experience for visitors to South Africa, followed by wine tasting in the famous winelands.

If you’re into sea life, you’ll love the Hermanus Whale Festival in late September on the south east coast of the western cape.

Vietnam

Despite the pound’s weakened position against the Vietnamese dong, the fall in prices locally means that the coastal city of Hoi An takes the top spot as the best-value long-haul destination¹. This ancient town is also a UNESCO World Heritage Site where visitors can enjoy a slower pace of life where you can cycle along the on the banks of the Thu Bon River or wander through tiny streets.

Sri Lanka

If you’re looking for paradise by the sea, Sri Lanka is an option. The hotels on the sweeping sandy white beaches on the east coast offer luxury without the hefty price tag as you’d find on a stay in the Maldives or Seychelles.

The country’s rupee fell in value following its political unrest which means that the exchange rate means more value for money when you’re there.

As well as the sandy beaches, there’s so much to do in Sri Lanka from fascinating ruins to lively cities, national parks teeming with wildlife and sweeping tea plantations. You can pack a lot into a trip – and you should!

Egypt

The collapse of the Egyptian pound means visitors to Red Sea resorts like Sharm el-Sheikh will get over 50% more cash to spend – the equivalent of over £174 more on a £500 exchange into Egyptian currency compared with last March¹.

This destination is popular with divers (and snorkellers) with waters brimming with underwater life around the coral reefs.

Above the water, visitors can book desert safaris where you can ride camels through the dunes and picnic under the stars.

Jamaica

Jamaica has become the best value destination in the Caribbean¹. That was based on prices surveyed in the north-coast hub of Montego Bay, a base for beachgoers, snorkellers and rainforest explorers.

Montego Bay has seen local prices drop² so travellers can make their money stretch further. There are plenty of luxurious, family-friendly all-inclusive hotels that will help to melt away stress.

Bulgaria

Bulgaria is great value for money¹. It’s well known for its rugged Balkan Mountains, beautiful forests and Black Sea beaches. Sunny Beach on the Black Sea coast is a popular beach retreat famed for its water sports, sand dunes and nightlife.

Portugal

The Algarve is the cheapest region in the Eurozone¹. The local currency is the Euro but thanks to the fall in local prices, it still offers value for money. Famous for glittering azure waters and sandy beaches, it's also home to plenty of ancient and medieval castles – and great hotels.