The changing exchange rates over the past year may have made property in Italy a more affordable destination than property in Switzerland for skiers.

David Swann, currency strategist at foreign exchange specialist Travelex, explains that the pound has strengthened against the euro, but lost ground compared with the Swiss franc.

"For those keen to hit the slopes, popular French and Italian resorts may now be more affordable than their Swiss rivals," he says.

In percentage terms, the movement of the pound against the Swiss franc and the euro has been about the same, but in opposite directions.

As a result, travellers heading to property in Italy with £500 worth of euros can expect €32 more to spend.

This could strengthen further in the weeks to come as the pound rebounds from a five-month low.

Conversely, those heading to property in Switzerland could see their spending money cut by as much as six per cent compared with the same point in 2009.

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