UK travellers jetting off on a Christmas shopping break in New York can save money on four out of five gifts compared with buying them in London, according to a new study.
Price analysis of 150 potential presents by Post Office Travel Money revealed that designer labels cost up to 65 per cent less on the other side of the Atlantic, while up to 51 per cent can be saved on toys.
The report found that many New York stores have cut prices to below 2016 levels, compounding the impact of the six per cent growth in the value of sterling against the dollar over the past 12 months.
The biggest bargains are on designer denims, with a pair of Abercrombie and Fitch women’s super-skinny jeans £68 in London but the equivalent of just £24 in New York.
Gap men’s 501 original fit jeans come a close runner-up as they are £85 in London but £31 in the Big Apple.
Andrew Brown of Post Office Travel Money, said: “With sterling’s recent recovery against the US dollar, there are great bargains to be struck in US shops provided shoppers have done their homework in advance.
“Although the vast majority of gift items are cheaper, savings vary quite a bit and some brands cost more in New York.”