Published on February 5, 2014
My project for Application of Number is going to be about holidays. I have decided on this topic because I want to help people choose a popular and cheap destination for their holiday baring in mind those two factors don’t always go together. I am going to analyse data found online of popular holiday destinations over a number of years. I will put this information together and show the overall results in a graph. I shall also share information using a table to demonstrate some of the cheapest currencies against the English pound. I also found the average exchange rate against the pound for Euros and American Dollars. I have carried out some research looking for the cheapest currencies against the pound sterling. I found some information on the Telegraphs website (http://www.telegraph.co.uk/finance/personalfinance/9672926/Theworlds-least-valuable-currencies.html?frame=2396164) showing the 10 cheapest currencies in the world compared to our currency. ~1~
With this information I created a table showing the different currencies. Currency Vietnamese dong Indonesian rupiah Columbian peso Tanzanian shilling South Korean's won Chilean peso Hungarian forint Pakistani rupee Kenyan shillings Japanese yen Number to GBP £ 33,000 15,300 2,880 2,500 1,730 760 350 152 135 126 All of these countries would be a cheap holiday as they are the 10 cheapest currencies in the world. This table shows that by far the cheapest holiday (spending money) would be the Vietnamese dong which is an incredible 33,000 Dong to the English Pound. I did attempt to transform this information into a chart but because the range of currency is so vast between the 1st 5 and the last 5 currencies it did not look presentable there for it is more appropriate to present the information as a table rather than a chart. I have researched on the internet for the most popular holiday destination in 2012 and found results for this year and the year before (2011). I have used the information in the table below to form a bar chart showing which destination is most possible and the increase or decrease in popularity over the 2 years. ~2~
The graph below shows that by far the European countries are far more popular than the rest in the different continents. The table shows that in 2012 there is a percentage increase of holiday makers for every country compared to 2011. This shows that more and more people are taking the opportunity to go on holiday when they can. I have worked out in rough that the percentage difference in holiday makers between the U.K. and France in 2011 is 64% and then in 2012 65%. ~3~
Tourist arrivals 100 80 Millions of 60 people 40 2012 2011 Malaysia Russia U.K. Germany Turkey Italy Spain China USA 0 France 20 Country http://en.wikipedia.org/wiki/World_Tourism_rankings#cite_noteWTO_Tourism_Highlights_2013_Edition-6 The most popular holiday destinations are in Europe and the US. I have researched some companies on the internet competing with exchange exchange rates for the Euro and American Dollar compared to the Pound Sterling and transferred the information into a table. ~4~
Company Travelex The Travel Club Debenhams Post Office Moneycorp Sainsbury’s Bank American Express Euro US Dollar 1.179 1.183 1.189 1.169 1.181 1.178 1.180 1.600 1.611 1.614 1.584 1.606 1.599 1.599 Global Reach Patterns 1.186 1.610 VIDA FX 1.184 1.607 ICE PLC 1.186 1.610 http://www.money.co.uk/travel-money/travel-money-exchange-rates.htm 4th December 2013 Using this information I found the mean, median and mode figure so that people at this current time looking to exchange their money should know what kind of rate to expect. The mean figure will be the average out of all the figures I have collected. The median is the middle number out all the figures and the mode will be the most frequent figure I come across. Euro Mean 1.182 Median 1.182 Mode 1.186 Dollar Mean 1.604 Median 1.6065 ~5~ Mode 1.599, 1.610
The exchange rates change all the time (day to day) so these figures can easily change but for people looking to change their money in Euros or Dollars now they should expect figures like; Euro Dollar – 1.182 to 1.186 – 1.604 to 1.610 I collected a non ICT document from a travel agent (The Travel House) showing their current exchange rates dated to the 22nd of January 2014. Euro Travelex -1.174 -1.210 Dollar Travelex -1.590 -1.639 These figures are slightly different to the ones that I averaged but the exchange rate never stays the same and keeps changing. I calculated these figures on the 4th of December and received the non ICT document on the 22nd January so obviously during those two dates the exchange rates changed which is to be expected. ~6~
This is a chart that I have created from raw data. I got this information from the Office for Nation Statistics website to show visits abroad from the U.K. from 2005 to 2010. As you can see at the end of the year 2007 there is a large decrease in visits. This is more than likely to be because of the recession. Holidays are seen as a luxury for families and because businesses were going bankrupt e.g. airlines less people were going on holiday. Instead they were choosing to stay local and save money. Also because of the recession business visits were affected and decreased. The number of visits for friends and relatives stayed pretty consistent throughout those years but also showed a slight decrease when recession hit. ~7~
In my holiday project I have found that the cheapest currency in the world is the Vietnamese Dong. I have also found out that France and the USA are the most popular holiday destinations in 2012. People looking to change their money in Euros or Dollars at this current time should expect a rate above. I checked my calculations that I did by hand using a calculator just to make sure my figures are correct. Also it was reassuring to see that when out and about coming across a few organisations that were promoting their exchange rates were showing figures in between my averages. (Euro – 1.182 to 1.186, Dollar – 1.604 to 1.610) ~8~
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