Strengthening pound offers holiday incentives
The weakening of the euro is set to lure more Britons abroad this summer.
Since the effects of the global economic crisis sent the pound tumbling against the euro around 18 months ago, devastating the travel and tourism industry, many traditional destinations for UK holidaymakers have been priced out of reach.
However, in a boost for those planning a summer getaway, the pound has rebounded to reach a new 19-month high against the European currency. The single currency has fallen by a significant 11 per cent against the sterling in the past 12 months, with the good news released just after the disastrous World Cup campaign sent England’s would-be hero’s home shamefully early.
Sterling’s upsurge in value to reach 1.24 euros represents the highest rate of exchange since way back November 2008, and means that the average British family could now be saving up to £700 on summer holiday around the Mediterranean compared to this time last year. Additionally, the struggling euro-zone economies on the mainland mean Britons based on the Continent can take advantage of lower prices on everyday household products, particularly good news for expats and retirees living in Spain, France and Portugal.
Croatia, Bulgaria and the troubled economy of Greece all are looming as bargain holiday destinations, while Eastern European countries will also offer excellent value for money. Travel specialist Thomas Cook claims that related travel expenses such as ground transport, drinks, meals, cigarettes, newspapers and snacks will all be markedly cheaper than a year ago, while online booking specialist lastminute.com has reported a massive rush for holiday bookings following the World Cup early exit.