Travelex South Africa
TRAVELEX PRESS RELEASE
Winter ski not snow bad
Date : January, 2007
Great exchange rates and a strong pound are leading British wintersports enthusiasts to choose emerging ski resorts over traditional favourites according to foreign exchange specialist Travelex.
In the last three weeks the retailer has seen a surge in demand for Bulgarian Lev, Romanian New Lei, Slovenian Tolar and Slovakian Koruna, suggesting that skiers and snowboarders from the UK are ditching established destinations such as France, Italy and Switzerland in favour of newer resorts.
Figures published by Travelex show that current exchange rates and the power of the pound in the newer resorts could save a skiing couple an average of £546 on a one week trip. Research reveals that a week skiing in Bansko, Bulgaria costs just £1,065 per couple, compared to a staggering £2,067 for the same holiday in Klosters, Switzerland, a difference of more than £1000.
One of the factors involved is the exchange rate for each destination. Slovenian Tolar shifted against the pound from 337.5701 in November to 345.1601 in January. Similarly, over the last month Bulgarian Lev has shifted from 2.7421 to 2.8491 and Slovakian Koruna from 48.3911 to 50.6531.
John Nicolas, UK Retail Director at Travelex says, “The current rate of exchange for the Lev makes it a good time to buy, the same applies for the New Lei, Tolar and Koruna. The level in demand for these currencies has increased by over 200% in the past month or so, suggesting skiers in the UK are paying attention to FX rates and are therefore making their money work harder for them”.
The cost of living also plays a large part in the overall price of the holiday. For example, a pint of beer in Jansa, Slovakia costs as little as 55p compared to a minimum of £3.77 in Klosters, Switzerland, an estimated difference of £121 per couple on a one week holiday. Equipment hire, ski passes and accommodation costs are also significantly lower in emerging resorts, for instance a 7 day ski pass in Poiana Brasov, Romania will cost just £110 compared to a whopping £312 in Val D’Isere, France and £372 in Klosters, Switzerland.
Richard Lace from Chorlton, Manchester comments, “For 6 years I have opted for ski trips to resorts such as Klosters and Val D’Isere, which have proven to be really expensive. This year I booked a week in Bansko and managed to save my friend and I £890 on our holiday – and it was fantastic!”
Comparative chart of emerging and traditionally popular ski resorts,
31st January 2007
| Average cost of… | Poiana Brasov (Romania) | Bulgaria (Bansko) | Slovenia (Kranjska Gora) | Slovakia (Jasna) | France (Val D’Isere) | Switzer- land/ (Klosters) | Italy (Sauze D’Oulx) | Austria (St Anton) |
|---|---|---|---|---|---|---|---|---|
| *Après Ski | £32 | £30 | £43.20 | £22 | £68 | £151 | £138 | £83 |
| 7 Day Ski Pass | £110 | £180 | £160 | £140 | £312 | £372 | £250 | £276 |
| *Equipment Hire | £140 | £140 | £172 | £180 | £141 | £368 | £200 | £212 |
| *Travel | £400 | £400 | £400 | £600 | £430 | £600 | £500 | £450 |
| *Accommodation | £455 | £315 | £370 | £500 | £700 | £576 | £500 | £645 |
| Total cost | £1,137 | £1065 | £1145 | £1442 | £1,651 | £2067 | £1587 | £1666 |
*Après ski calculated by the cost of a pint of beer x the average estimated amount of pints consumed per couple on a 7 day ski trip
*Equipment hire including skis, poles and boots
*Travel including flights and transfers
*Accommodation including 7 nights at a 4* hotel
For best deals on foreign exchange or to track rates visit www.travelex.co.uk
NOTES TO EDITORS
Case study available for interview or comment.
| Chris Hides | Alex Blundell |
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About Travelex:
Travelex is the world's largest foreign exchange specialist with over 700 retail branches and 16,000 business customers. There are retail branches at key airport, seaport and rail locations, in addition to tourist and business centres around the world. Over 40% of travellers and 1.5 billion passengers pass through airports at which the business operates including the major gateways at London, New York, Hong Kong, Frankfurt and Sydney.
Travelex is also the world's largest non-bank provider of international payment services, providing integrated payment solutions for businesses. The group is also one of the world's leading providers of outsourced travel money to banks, travel agencies and other financial institutions and one of the world's oldest issuers of Travellers Cheques.