A hot Pound and cool cities
- As the UK sweltered in heatwaves, Scandinavian destinations offering cooler temperatures have become red hot value after the Pound surged nearly 6% in June
- Sterling’s rise has made Norway 5.9% cheaper and Sweden 3.6% cheaper for Brits fleeing the constant heat for a Nordic ‘coolcation’
- As London fried in 36.4C heat in June, Finland’s elegant capital Helsinki saw temperatures peak at a more comfortable 28.2C while Iceland’s chilled capital Reykjavik enjoyed a gentle 17.5C
As Britain endured soaring temperatures, the soaring Pound offering some unexpected respite from the heat, Nordic ‘coolcations’ became nearly 6% cheaper in June, according to travel money specialists No1 Currency.
Coolcations are the converse of the traditional summer holiday, in which Brits head for the cool climes of northern Europe rather than Mediterranean hotspots.
They came into their own in 2026 after summer saw record-breaking temperatures across southern Europe, including 44.3C in France, 43.7C in Spain and 41.7C in Germany. The UK also clocked its highest June temperature on record after the mercury reached 37.7C in Norfolk.
By contrast Nordic destinations famed for their chilled lifestyle and cool cities offer warm, rather than boiling, temperatures in summer. Even at the peak of the June heatwave, temperatures in Finland’s stylish capital Helsinki were a balmy 28.2C, 23% cooler than London’s sweltering 36.4C. Maximum temperatures in the Icelandic capital Reykjavik were a gentle 17.5C, half those endured by Londoners.
Sweden, Norway and Denmark all welcomed record numbers of tourists in 2025 and the Scandinavian airline SAS has reported a 10% year-on-year surge in inbound passengers2 as increasing numbers of travellers swap beach hotspots for somewhere cooler in every sense of the word.
No1 Currency, which sells foreign currency through a network of 220 high street locations across the UK, tracked exchange rates for the five Nordic currencies in June and found that sterling rose against them all – making coolcations better value for anyone keen to escape Britain’s third heatwave of the summer.
The Pound rose 5.9% against the Norwegian Krone, 3.6% against the Swedish Krona and 1.1% against Iceland’s Króna. It’s also up 0.7% compared to the Danish Krone and the Euro, which is used in Finland.
Table: Sizzling sterling makes Scandi cool more affordable
| Country or territory | Currency | £1 is worth | Capital maximum temp in June | £1 increase in June | Capital cooler than London by |
| Norway | Norwegian Krone | 13.12 | 29.5C | +5.88% | 19% |
| Sweden | Swedish Krona | 12.88 | 30.2C | +3.64% | 17% |
| Iceland | Icelandic Króna | 167.25 | 17.5C | +1.11% | 52% |
| Denmark | Danish Krone | 8.68 | 32.4C | +0.68% | 11% |
| Greenland | Danish Krone | 8.68 | 11.2C | +0.68% | 69% |
| Finland | Euro | 1.16 | 28.2C | +0.65% | 23% |
Simon Phillips, Managing Director of No1 Currency, commented:
“Coolcations were almost unheard of until a couple of years ago, but rising temperatures across Europe have made them one of 2026’s hottest travel trends.
“With more sweltering heat forecast this week in Britain’s third heatwave of the year so far, it’s easy to see the appeal of Nordic countries’ cooler climes.
“Norway is blessed with the world’s most stunning coastline, and Scandinavia is a byword for cool design and a chilled out lifestyle that make it a draw at any time of year. But when Britain and southern Europe sizzle in stifling heat, Scandi cool takes on a whole new meaning.
“Scandinavia isn’t known for being cheap, but the Pound’s rapid rise against all five Nordic currencies in June has made coolcations more affordable. With many UK travellers booking their summer break later than usual this year, the coming months could see thousands of holidaymakers opting to head north rather than south.
“If you’re one of them, it’s a good idea to lock in the current favourable exchange rates by picking up some currency for your chosen destination now, rather than leaving it to the last minute.
“Exchange rates can differ a lot between different travel money providers, so make sure you check online to see who has the best deal in your area and never leave it to the airport to get your holiday cash.”