New research has revealed where Australian travellers are meticulous in their holiday plans – and where they’re not so diligent.
According to a report by currency exchange experts, Travel Money Oz, two in three (64%) Aussie travellers book their flights more than three months prior to departure while around half arrange accommodation and passports equally far ahead.
But when it comes to organizing money for our travels, we’re far more relaxed, with one in three travellers getting their cash sorted only one or two weeks before jetting off.
The research found that one in three travellers were also exchanging at least some of their cash after they had arrived at their destination.
Travel Money Group general manager Kelly Spencer said it was surprising to see so many Aussies leaving their currency exchange until the last minute.
“As our research shows, most travellers book their flights and accommodation months in advance but leave their currency until weeks and even days before departure, meaning they have to take what they can get,” she said.
“We know exchange rates can fluctuate a lot, so it’s worthwhile keeping an eye on the exchange rate so you can purchase in advance while the exchange rate is in your favour.
“Travellers embarking on a winter holiday later this month, for example, could be potentially hundreds of dollars better off depending on when they purchased their cash.
“Based on USD rates from our web store if you purchased A$2,500 worth of USD three months ago, you'd get around $1915USD.
“Purchasing around the middle of June, you would have achieved approximately $1815USD by comparison - a difference of $100USD.
“And if you if you happened to hit the AUD-USD rate high in January, you'd be taking off with around $1927USD in your pocket.
“This isn't to say that you should purchase your cash three months in advance as that's a guaranteed better rate, but that rates can change, so it’s in your best interests to keep an eye on them.
“You could get an additional night’s accommodation or meal out from the difference of your rate.’’