Sterling has soared against the weak Egyptian pound in the last 12 months, giving a massive boost to getaway budgets in the ongoing cost of living crisis.
Researchers found that UK visitors to Red Sea beach resorts such as Sharm el-Sheikh will get a massive 73% bonus in local currency when they change their cash – the equivalent of more than £210 extra on a £500 transaction compared with March 2022.
The exchange rate has rocketed from 18.31 to the pound last year to around 31.60 today.
