Price falls in leading destinations mean that British holidaymakers travelling long haul this winter can finally expect their holiday pound to stretch further, according to the Post Office Travel Money’s 2011 Long Haul Holiday Report. Thailand, which will play host to the World Travel Awards in just two days, was named as the second best destination for value for money.

The sharpest drop was in Sri Lanka, where resorts costs plummeted by a third compared with 2010, according to the Post Office Travel Money’s 2011 Long Haul Holiday Report.

At £31.81 for a ‘basket’ of 10 items including a three-course meal for two with wine, Sri Lanka led the way in the Post Office’s Holiday Costs Barometer for the second year running.

A year ago the barometer noted the first signs of rising resort costs in a destination known for its value. But the latest barometer findings suggest that competition in Sri Lankan resorts has had a calming effect on prices.

For this year’s barometer, the Post Office surveyed a record number of destinations – 28 compared with 22 last year.

Highest placed of the six new entrants was Vietnam (£52.72), once a backpacker favourite but now a mainstream holiday choice.

In third place, Vietnam was beaten to the runner-up spot by Thailand (£51.48), where a six per cent drop in local prices helped to combat the weak sterling exchange rate.

Elsewhere in the Far East, China showed the year’s biggest price rise of 27 per cent (£116.43) and Hong Kong was most expensive overall (£132.06), despite being 11 per cent cheaper than a year ago. It was one of 13 countries where barometer costs have fallen since last year. These include South Africa where tourist items have tumbled by 27 per cent (£57.84) after the World Cup pushed up prices a year ago.

Sarah Munro, Post Office Head of Travel Money, said: “Things are looking up for hard-pressed holidaymakers. After a summer when the weak UK pound bought less holiday cash in Europe, tourists heading further afield for winter sun can look forward to seeing their pounds stretch further in most long haul destinations.

“Resort prices have fallen in two-thirds of the countries we surveyed a year ago and, in addition, sterling has strengthened against 15 of 26 long haul currencies3. For example, the UK pound will buy over 19 per cent more Kenyan shillings than a year ago and is also stronger against Caribbean and Latin-American currencies. Holidaymakers visiting the USA, Dubai and Egypt will be quids in too.”

World Travel Awards Asia and Australasia ceremony

In two days Thailand will play host to one of the most extraordinary and prestigious events in the world travel & tourism calendar, taking centre stage as a world class leisure and business destination, as it spearheads the global travel & tourism recovery.

The Asia & Australasia World Travel Awards, Gala Ceremony is set to take place at the luxurious Dusit Thani Bangkok in Thailand on 28th September

A distinguished line-up of travel industry professionals, senior executives from renowned travel companies, and hoteliers representing Asia & Australasia’s leading hotels, as well as media from 60 countries are expected to attend this prestigious ceremony when winners will be recognized for their outstanding achievements.

To find out which other destinations have been innovating and leading the way, stay tuned to World Travel Awards

Find out what else is happening in Thailand today via Bangkok.mobi providing information on accommodation, restaurants, attractions, entertainment, nightlife, shopping, and transport.