Some of the best value destinations in terms of a favourable exchange rate currently include South Africa, the USA and those Eastern European locations with their own currencies.

This is according to John Nicholas of Travelex.co.uk, who noted that holidaymakers are likely to go further east in Europe to get the most out of the pound as the eurozone becomes more expensive.

The pound recently hit its all-time low against the euro and savvy travellers are looking to other destinations to make their cash go further, he said.

Mr Nicholas added: "The pound has also remained consistently strong against the dollar, meaning that summer breaks to popular tourist destinations in the USA will also offer a good return on investment."

Last month, the Post Office released a report suggesting that Hong Kong, the Caribbean and Dubai also offer good value for British travellers at the moment.

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