A new Ice Cream Index from Sainsbury’s Bank reveals the European summer holiday hotspots where Brits can get the most bang for their buck for the things they buy the most. With a third (32%) of Brits planning to jet overseas this year and nearly half (43%) worried that their holiday budget won’t stretch far enough this summer, it’s never been more important to plan ahead to make sure your money goes further.
Whilst the Algarve, Portugal, came out in the top value hotspot overall, Crete in Greece was revealed as the sweetest deal for ice cream loving holiday makers with the average scoop costing €2.40, compared to other popular holiday destinations such as Costa del Sol where the average scoop costs €3.70.
This will be good news to Brits, after Sainsbury’s Bank research revealed that ice creams came out as the number one item Brits buy the most whilst on holiday, with over three quarters (83%) of the population enjoying at least one during their travels. An indulgent one in ten Brits admitted to having six of these delicious frozen treats across the course of their holidays, which on average would cost them almost €20. Other items bought most frequently include coffee, pints of beer and sun cream, with a full breakdown of where to bag the biggest bargains below:
|
Spain (Costa del Sol) |
Greece (Crete) |
Italy (Amalfi Coast) |
South of France |
Portugal (Algarve) |
Average cost |
|
| Ice cream | €3.70 | €2.40 | €2.67 | €3.10 | €2.70 | €2.91 |
| Cup of coffee | €2.87 | €2.25 | €3.17 | €4.27 | €2.07 | €2.92 |
| Pint of beer | €3.67 | €4.50 | €5.32 | €6.47 | €3.83 | € 4.75 |
| Bottle of water | €0.56 | €0.35 | €0.47 | €0.58 | €0.71 | €0.53 |
| Sun cream | €14.16 | €21.20 | €16.42 | £15.29 | €7.85 | € 14.98 |
| Glass of wine | €3.00 | €3.83 | €4.50 | €5.33 | €3.16 | €3.97 |
Across the top: Most popular European holiday destinations (from left to right)
Down the left: Items bought most frequently while on holiday (in descending order)
The average holidaymaker is expected to spend €932 (£803.26) for seven days in the sun and although two thirds (69%) of respondents shared that they’d set a budget ahead of travelling, the majority of Brits still manage to run out of spending money by day five of their trip. Further still, over half (50.5%) of respondents admitted to being worried that the rising cost of living will leave them with less holiday spending money this year.
Internal data from Sainsbury’s Bank revealed that while the majority of Brits are jetting off to Europe this year, with 75% of currency exchanges being for Euros, this was then followed by the US which makes up 10% of exchanges. Turkish Lira, Croatian Kuna and Mexican Pesos are also in the top 5 most popular currencies, as Brits look to explore new destinations now that travel restrictions are easing around the world.
For Brits looking to get the best deal on travel currency this summer, Sainsbury’s Bank offers travel currency at over 200 bureaus in store, as well as online and over the phone, with better rates for Nectar members. Currency orders online can be delivered for in store collection or for home delivery on the next working day across the UK. The easy-to-use service allows you to order currency online and use an automatic currency converter showing you how much your Pounds are worth.
Customers can buy and sell a range of foreign currencies, and transfer money abroad with Western Union at their local Sainsbury’s supermarket. Sainsbury’s Bank offer 0% commission and competitive rates on all foreign currency, with better rates for Nectar members.
With so many Brits admitting financing a holiday is anxiety-inducing, Simon Taylor, Director of Travel Money shares his top tips showing Brits how to make their money stretch as far as possible when travelling this summer.
- Shop around for rates
Checking currency exchange rates online from a variety of sources before purchasing will almost always help you make some savings – shop around to find the best rate from a trusted travel money provider. Sainsbury’s Bank has a helpful online currency converter, to help you calculate exactly what you can get for your money. And avoid leaving it until the airport where you’re likely to get the worst rates.
- Use a prepaid travel money card
Avoid any surprise fees by loading your travel money onto a prepaid travel card, which will allow you to withdraw local currencies and make contactless payments around the world for free, saving you the risk of incurring any additional fees that might come from using your debit card abroad. Plus, with the travel money card from Sainsbury’s Bank³, you can freeze your travel money card if you lose it!
- Keep an eye on current affairs
Consider if there are any upcoming national or international events that might cause a fluctuation in the strength of a currency. A good example of this is elections – if you’re unsure how the event will impact the currency, plan to take some of your currency out before and some after to help spread the risk.
- Stay away from big notes
When abroad, you may find that not all shops accept large denomination notes. Be sure to get a range of notes so that you have plenty of small change for food, drink and taxis while you’re away.
- Buy-back leftover holiday money
Don’t let leftover holiday money go to waste; bring it to an in store bureau to convert it back into Pounds. At Sainsbury’s Bank, we buy back most foreign currency notes in denominations we sell (buy back rates vary daily).
