After the Governor of the Bank of England signalled interest rates are likely to rise modestly later this year, the Pound has risen close to a five year high against a raft of currencies. In the last 12 months, we’ve seen a 17% rise in the value of the Pound against the Canadian Dollar and a 15% rise in the Pound against the US Dollar.
So what does this mean for skiers and snowboarders? According to tour operator Ski Independence, cheaper Canadian and US ski holidays.
“Generally, only flights are paid for in GBP by UK tour operators. This means all other parts of a North American package are contracted in the local currency, including hotels and condos, transfers, lift tickets, ski or board hire and tuition. An added bonus is the Pound in your pocket will go much further when you get to resort; breakfast, lunch, dinner, après-ski drinks, spa treatments and even ski clothing and equipment will be much better value than before,” explained a company spokesperson.
The Canadian and US Dollars hit a 52 week low of C$1.56 and $1.48 to the Pound last July but today stand at C$1.82 and $1.70 respectively. This means that a week’s accommodation in Whistler costing £1000 a year ago should now be only £857, a saving of £143, whilst an equivalent £1000 hotel room in the US now costs £871, a saving of £129.
Ski Independence have put together a definitive Ski North America – Exchange Rate Savings Guide covering everything from lift passes and ski lessons to a new pair of ski boots and a coffee on the mountain.