AUSTRALIA’S PASSION FOR INTERNATIONAL TRAVEL CONTINUES DESPITE WEAKENED DOLLAR


Sydney, Australia – Australians’ demand for US and European currencies has increased year on year*despite the AUD weakening against major currencies, according to Travelex data released today. This new finding contradicts ongoing trends for Australians’ short-haul international travel habits, which sees travellers choose popular destinations, such as Fiji and Bali, based on where their dollar will go further.

Despite the AUD trading below 90 cents against the US dollar (USD) since September 2014, the top selling currencies for Australian travellers remain to be (in order) the USD, Euro (EUR), New Zealand dollar (NZD), and British Pound (GBP).

Conversely, demand for the Fijian dollar (FJD), Indonesian rupiah (IDR), Vanuatu vatu (VUV) and French Polynesia franc (XPF) fluctuates significantly depending on how the AUD is performing against each currency.

“Aussies are savvy currency buyers. As a nation we often prefer to buy the major currencies, such as USD and Euro, during periods when there is increased volatility in the exchange rate. Despite the AUD continuing its fall below parity with the USD in recent months, interestingly USD and Euro are increasing their share in total sales,” says Miroslav Trisic, Travelex’s head of pricing for the Southern Hemisphere.

“We do know though that Aussie travellers take into account affordability of the destination when they’re planning holidays closer to home – to Fiji or Vanuatu for example – and demand will increase for a currency that the AUD is performing against well.”

With a weakened AUD, pre-planning travellers looking for a good currency deal should consider entering Travelex’s ‘Win a Million’ competition. ‘Win a Million’ provides one lucky traveller with the chance to win $1 million. To enter, travellers simply exchange AUD$250 online at www.travelex.com.au or AUD$400 in store in Australia. Alternatively, travellers who top up a Travelex Multi-currency Cash Passport™ in-store with the equivalent of AUD$400 in foreign currency also go into the draw. 

Trisic commented: “Our Win a Million competition gives one lucky traveller the chance to live their dream, with the chance to win $1 million. With $1 million, the winner will be able to enjoy the long haul and short haul travel of their dreams!”

Entries into ‘Win a Million’ close at 5pm AEDST on 31 January 2015. For more information visit: travelex.com.au/winamillion.

‘Win a Million’ terms and conditions.

Ends.

*Data according to Travelex sales figures for the period, August – October 2014 YOY.