Regardless of our different cultures and backgrounds, we all probably fancy getting to know this giant marble which we call home, a little deeper. Just pack our bags and grab the next train or plane to an unknown destination sounds like lots of fun, but unfortunately, the economic situation of Great Britain is not at its brightest spot right now.
The unemployment rate is sitting steadily at 5.1% and even though it is continuously decreasing ever since May 2015, the overall sentiment for the British pound has seen better days. In addition to that, it is reported that the average household will be about GBP 10K in debt by the end of 2016 – without accounting for mortgage rates – and this is mostly due to the lack of a proper financial education.
Which is exactly what we will learn here today, well, at least, when it comes to making smart choices as far as travel destinations and budget management go. The possibilities are endless. From South American natural havens such as Brazil, Bolivia, and Venezuela to the Mediterranean exotic paradises of Greece and Turkey – not to mention the beautiful beaches from Southern Asia in Cambodia and Vietnam. All these countries share a common factor, and no, it’s not their stunning sights. It’s their currency strength.
In order to properly assess if any given country is affordable within our budgets, we need to be informed about their currency strength in the foreign exchange market. This requires some quality reading, and a little math, but nothing too extravagant. In the end, an informed traveler can make the smartest choices when it comes to choosing the best destinations their budgets can afford. It’s a little bit like investing, the more information you gather, the more likely you are to succeed in your venture.
Three Destinations to Consider in 2016. And Why.
The Brazilian domestic economy is in its worst crisis ever since the Great Depression hit the United States back in the 1930s, and this year will be no exception as economists all around the globe are forecasting the Brazilian economy to contract by at least 2.6% by the end of 2016. Just don’t expect Rio de Janeiro to be all that cheap, as it remains as the most expensive Brazilian city. Nonetheless, the 2016 Olympics are suddenly looking much more attractive.
The ongoing Greek economic debacle doesn’t seem to have an end anytime soon. Just like Brazil, Greece has fairly expensive destinations as well- such as Santorini and Mykonos – but it also has the perfect spot for every kind of traveler. For the quieter folks, the islands of Paros and Skiathos can offer you calm and tranquility for half the regular prices. For the younger, wilder, rave-lover backpackers, Ios island is just the spot. But in case you want to satisfy your gastronomic desires, then Hydra and Kefalonia are going to offer you nothing short of sheer culinary heaven.
Cambodia is so incredibly cheap, that you might actually feel guilty for paying so little. You can find beds for about £1 and full-sized meals for even less than that. Yes, it also has 5-star-hotels, which surprisingly are not that expensive, a night at the De La Paix hotel in a double room is about £250. And of course, no visit to Cambodia would ever be complete without visiting the UNESCO world heritage site, the famous Angkor Wat Archaeological Park. A three-day-tour is only £26, and there are so many temples to visit it’s worth every penny.
Looking for new ways to fund all these travel destinations? Then you might want to take a look at online trading platforms like CMC Markets. Not only you will learn a lot about the foreign exchange market and the different effects it has on currencies worldwide, but also, you could find in investing, a potential gateway to keep generating an active income, all while enjoying an ice-cold caipirinha under a quiet straw hut, at some northern Brazilian beach.