Egypt is quickly returning as a more affordable holiday destination for British travellers, according to Financial Times posted the Post Office Holiday Money Index’s results.
This came as a result of an increase in the Pound Sterling to the Egyptian pound with a percentage of 72 percent, as an annual rate, in comparison to its price in February of last year and January of this year.
British tourists get around 210 Egyptian pounds extra when they exchange 500 pounds sterling, according to Financial Times.
The British newspaper also showed that the number of tourists heading to Egypt has gradually recovered after the security concerns and the pandemic are over.
Ed Dutton, CEO of Post Office financial services, said that a destination such as Sharm El Sheikh might be the cheapest destination due to the decline in the Egyptian pound in terms of the pound sterling.
These results came after British tourists travelled long destinations despite the decline in the pound sterling in terms of the other main currencies last year, including the dollar and euro. This affected the purchasing capacity outside the country.