Vacationers Lorna Johnson and her sons (from left) Tom, Dan and Joe.
BRIDGETOWN, Barbados--Though its impact is being felt, the falling value of the British pound sterling will not stop some pleasure seekers from making Barbados their first choice for a holiday destination.
Admittedly, however, those who spoke with Barbados TODAY said they have had to make several adjustments to their spending while on island due to the falling value of the pound and the high cost of some items here.
Following the unveiling of a programme of tax cuts in the UK Parliament at the end of September, the British pound plunged as low as US $1.08 (2.16 Barbados dollars (Bds $)), levels not seen for more than 30 years.
On Tuesday, commercial banks in Barbados were purchasing the British pound notes for as low as Bds $2.23 and selling them for Bds $2.32.
This comes as the Post Office Travel Money’s Holiday Report 2022 rates Barbados as the second worst-value, long-haul winter destination for British travellers, based on the cost of buying certain items. The island followed Iceland in the ratings.
These include a three-course meal for two with wine, a cup of coffee, insect repellent, a bottle of local beer, a can of Coca-Cola, a glass of wine, a bottle of still water and sunscreen.
Lorna Johnson, who was spending time on the Dover Beach in Christ Church with her sons Joe, Dan and Tom, as they enjoyed some local beverages, told Barbados TODAY the falling pound against the US dollar has made the past few weeks a nervous period for her as she made final plans to come to Barbados.
“It has just got worse over the last few weeks so I was quite nervous coming here and thinking about what we could afford. We were booked and we are here, but it is tough,” said Johnson, who is spending 11 days on the island.
Noting that there has been a noticeable increase in prices in Barbados since she did her initial research prior to coming, she said, “Even if you want to cook for yourself, it is expensive. It is like three times the cost at home. You try and keep things down, but it runs away with you. You’ve got no choice: there is no cheap option here at all.”
She said the best part of her trip so far has been the friendly interaction with Barbadians.
However, the current challenges will not stop Thompson from spending another holiday in Bridgetown. She said she will be “saving hard” to come back, even if it means several years from now.
“I’d [rather – Ed.] come back here than go to Spain or somewhere else twice. I’d much rather wait 10 years and come back,” she quipped.
Chad Thompson, who is a regular visitor to Barbados from Southampton in the UK, told Barbados TODAY he was in the process of building a house on the island and has had to put certain big-ticket purchases on hold for the time being as he holds out hope of things turning around soon.
“I want to get a better rate, really,” said Thompson, who has been visiting Barbados all his life.
“[We are] just trying to keep big purchases down at the moment until it makes more financial sense,” he said.
Though not too bothered by the rising costs, Thompson, who is travelling with four family members and some friends on a three-week trip, said, “It is a big kick in the teeth, but it is what it is and you just have to roll with it and play the game.”
Marius Edghill, who left Barbados when he was three, recently retired from law enforcement in the UK and came to the island in August to spend three months with his parents, just before the pound tanked against the US dollar. He vacations here frequently.
Edghill said there was no denying the impact the low-value British pound was having on how far it could now stretch.
“It is significant. Before I used to get three-plus Bajan dollars to the pound. I used to get at least US $2 to the pound and now they are virtually the same. But that is British politics right now – the way things have been going,” he said.
He said not having to stay in a hotel was a plus for him, but noted that when he goes shopping, it is noticeable that he doesn’t get much for his money.
“Undoubtedly, I have noticed how much [more] money I am spending now than I would have otherwise, and I am always paying attention to what is happening politically,” he said.
He blamed “bad political decisions” in Britain over the last 10 years for the economic heartaches and problems.
Edghill said it was important for those visiting the island to immerse themselves in the local culture in order to fully enjoy their vacation, even on a tight budget. ~ Barbados TODAY ~
