Families booking their summer holidays this year might want to reconsider traditional destinations such as Spain, France or Turkey, and head to Dubai, according to foreign currency experts FairFX.

FairFX has revealed that Dubai – billed as a playground for the rich and famous – is fast becoming one of the best value holiday destinations of 2010. Dubai’s dirham - pegged to the US dollar - has dropped significantly against the British pound in the past few months, making this ‘exclusive’ destination now good value for the average UK family.

For every £200 they spend, UK visitors can now get an extra £10 worth of currency, compared to this time last year. In addition, the seven hour flight makes it one of the closest of the ‘value’ long-haul destinations, and flights for under £250 are easy to find.

Many hotels are cutting their rates in line with the recent economic slump, meaning that some of Dubai’s premium five star hotels are offering four night breaks for less than £350 and rates across the board have dropped by approximately 35% in the last two years. The budget hotel market is also beginning to make its mark in the city – British brand Premier Inn opened its first hotel there earlier this year.

In contrast, as the euro continues to strengthen against the pound, families heading to the Eurozone may be shocked by how quickly their money runs out. Similarly, many former bargain hotspots such as Turkey have become considerably more expensive, as the Turkish lira has strengthened against the pound in year on year comparisons.

Other long haul destinations favoured by the current exchange rates are Japan, Thailand and India where the pound has increased in value in comparison to this time last year.