The pound has fallen by more than a third against the euro since July - with the Post Office offering tourist rates of ¤99.29 for every £100, and most mainstream destinations outside the eurozone also becoming more expensive.

A Times Travel study showed that the pound now buys 2.22 Turkish lira, considerably lower than its average during the past five years of 2.56 lira. It peaked during this time at 3.12 lira.

Meanwhile, sterling is almost at a five-year low in Egypt, worth just 8.17 Egyptian pounds. The Croatian kuna is a third stronger against the pound than it was in 2005. And in Australia the pound fetches about $2.12, much less than its recent high of $2.69.

The pound-US dollar rate remains in the doldrums: the Post Office was offering $1.39 to the pound, down from almost $2 in the summer. Against the Canadian dollar, the pound was at a five-year low of $1.78 this week, according to the currency comparison site www.oanda.com.

“It's a great year to stay in the UK,” said VisitBritain. “The weakening of sterling against the US dollar and the euro are among opportunities to boost inbound and domestic visits.”

The French and Spanish tourist boards are concerned that visitor numbers will drop. A spokeswoman for the French Tourist Office said: “It is not good - 2008 is already down on 2007.” But she also predicted that some French hotels would drop prices to entice British holidaymakers: “They may do this by offering cheaper rates to tour operators.”

Ignacio Vasallo, director of the UK's Spanish Tourist Office, said: “Every foreign destination is facing the same problem with the pound and everyone will be demanding more value for money in 2009.”

Anyone considering visiting Slovakia should beware, says the foreign exchange experts Travelex. The country, renowned for its budget prices, joined the eurozone this week and a “price hike” was likely - as there was after Malta and Cyprus introduced the euro last year, it says.

People hoping to make their pound stretch further this year should consider South Africa, where sterling is worth 14.10 rand compared with a five-year average of 13.05.

The only out-and-out “bargain” is Iceland, where this year's financial collapse means the pound is a third stronger than last year. The island has been chosen by the Association of British Travel Agents in its annual “hotspots” list for the year ahead. No eurozone countries were selected. However, Mexico, where the pound is fairly strong against the peso, was another “hotspot”.

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