Some vacationers appear to be planning the trip of a lifetime amid a spike in foreign exchange sales, according to the Post Office. The Post sees signs of “pent-up demand,” which may stem from people preparing to travel abroad for the first time since the coronavirus pandemic began.
The latest travel money holiday index showed revenue growth in a number of currencies for the first three months of 2022 compared to the first quarter of 2020. Strong growth in currency purchases for Croatia and the Caribbean islands suggests these will be the targets of elections, the Post said.
Selling for most currencies has accelerated since the beginning of the year, with purchases of the Croatian Kuna up 137% in the first quarter of this year compared to two years earlier. Caribbean currencies have also seen strong growth — most notably the Barbados dollar and Jamaican dollar, the Post said.
The Mexican peso and East Caribbean dollar also posted large gains. Nick Boden, Post’s Head of Travel Money, said: “We are used to seeing a surge in sales of the Croatian kuna in the spring, but the surge in March was unprecedented, suggesting Croatia are having another very successful year will.
“We have also seen an exceptional surge in sales of Caribbean and Central American currencies in 2022. This suggests the pent-up demand is leading many Britons to plan the holiday of a lifetime to some of the world’s most up-and-coming destinations.”
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