THE COST OF LIVING

Date 13.11.2017

Australia vs London

Australia may have been graded as the fourth most expensive place to live, according to a recent study – but this hasn’t stopped vacationers from choosing to travel there. In fact, tourism in Australia has flew this year to a grand total of 6.6 million arrivals from 2014. Let’s compare the cost of living in Australia to the UK; we’ll take a look at the average price of some of the most mutual purchases for holidaymakers in both countries’ capital cities to see whether or not the difference really is that big.

Food and Drink

When you’re on holiday, calculating how much your food and drink will cost is imperative – if the price is expressively higher than you’re used to paying for the equivalent goods, this can take a huge portion out of your holiday spending money. Below is a breakdown of the average cost of common food and drink items in both Canberra and London:

A pint of beer will cost you…
– Around 6 A$ in Canberra, which is equivalent to £3.29
– £3.79 in London

A bottle of water (0.33 litres) will set you back…
– 2.82 A$ in Canberra, which averages to around £1.50
– 97 pence in London

A three-course meal for two in a mid-priced restaurant is likely to come to…
– 80 A$ in Canberra – about £44 so just over £20 per head
– £50 in London – so £25 per head

Getting around

Another thing you’ll need to be conscious of is the cost of getting around. Whether you pick to use the local public transport, hail a taxi or hire a car, you might want to have look at these average transportation costs:

A one-way ticket on local public transport will cost you…
– 4 A$ in Canberra, which works out at around £2o
– £2.80 in London

You can expect to pay a taxi starting fee of around…
– 4.88 A$ in Canberra, which is about £2.70
– £3 in London

The cost of petrol per litre is:
– Around 1.6 A$ in Canberra – or 88 pence
– £1.38 in London

So, there you have it – in nearly every case, the cost of living in London was higher than that of Canberra (Australia’s capital). But do these results really surprise you?

Moneycorp’s top tips for making your money go further when travelling abroad:

Keep an eye out for offers on currency exchange

Buy a prepaid traveller’s card to avoid ATM fees

Change your money before getting to the airport

Inform your bank if you’ll be using your debit/ credit card abroad

Budget for emergency funds – you can never be too careful

Sending Money to and from Australia:

If you need to send money from an UK bank account to an Australian bank account, moneycorp can help. Using your bank can be expensive when sending money internationally.

Why use Moneycorp?

Established since 1979, they are regarded as the leading money transfer company in Europe. They facilitated 7.2 million customer transactions last year, more and more people are switching to use them instead of using their bank.

Contact Moneycorp today and discuss your currency exchange:

Tel: 0808 274 1998

Email: john.kinghorn@moneycorp.com

Web: www.moneycorp.com/duc

Source: Moneycorp