Brits are preparing for high costs abroad this summer. Holiday spending money budgets have gone up by as much as 46% this year compared to last according to analysis of currency orders from foreign currency expert ICE (International Currency Exchange – www.iceplc.com). The average order value for the top ten currencies sold by ICE (see table) is now £746 compared to £634 last year.
The widely-predicted demise of the Euro could herald a return of the good old days of traditional cheap summer European destinations such as Greece and Spain, according to economists.
First Rate Exchange Services Limited (First Rate) research has revealed that the eurozone is set to remain by far the most popular destination for UK travellers during 2010, with almost 22 million people¹ intending to visit countries across the region during the year.
You’d be hard pressed to find a tour operator out there that isn’t feeling the chill of the global downturn. But with the daffodils in bloom and Easter just round the corner, spring fever is restoring some much-needed cheer to the travel industry.This season though sees a shift in holiday booking patterns. The strength of the Euro is leading to a slump in bookings across the Eurozone destinations. British holidaymakers, for example, are finding prices up to three times higher in Eurozone cities than those outside.