Pound 'worth more' in Brazil and Australia

Brazil and Australia are among the destinations Britons may chose when going on holiday this year, new research has suggested.

Data from Halifax has indicated that many holidaymakers may seek alternative countries during 2009, due to the recent weakening of the pound against the euro and the dollar.

And these two countries are among those where the pound's value has risen, with sterling being worth 15.3 per cent more in Brazil now than six months ago and 6.8 per cent more in Australia.

The exchange rate fluctuations may also benefit property investors, as those looking to make purchases in either Brazil or Australia may be able to use the strength of sterling in these areas to their advantage.

However, investing in some areas of Europe may prove more costly, with chief economist at Halifax Martin Ellis noting that "the pound has fallen significantly against both the euro and the US dollar in recent months".

Tom Falcao of Brazil's tourist office in London recently stated that the country's north-west region is well-prepared to cater for foreign visitors.

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