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19 October 2012 09:24
Improved exchange rates boosted British travellers' spending power in the Eurozone
Struggling shops and restaurants in Spain and Greece enjoyed a Brit-led spending boom this summer as better exchange rates boosted UK tourists' Eurozone purchasing power, according to research.
A study by My Travel Cash Prepaid Mastercard found Britons' spending power jumped 35% with half the transactions made in local restaurants and independent shops abroad. UK travellers also exchanged £350,000 more, giving them a holiday budget 15% bigger than it was in 2011. With £500 now buying 608 euro compared to 547 euro a year ago holidaymakers planning an autumn half-term break in Europe will also see their money go further. And the company behind the study said the trend was set to continue into the winter months, ensuring travellers have plenty of funds for essential
Its founder and managing director Myles Stephenson said forecasts a strong pound would benefit British travellers had proved correct. He added: "What was less reported on but is still a valid point, is the contribution our holiday spends make to the economies of the countries we visited, especially those who have been struggling, for example Spain and Greece."
03 December 2016
Thousands of Britons could be heading off on snow-sports holidays without appropriate travel insurance cover, it has been warned.
01 December 2016
Pilots at German airline Lufthansa are on strike again after a two-day break in their campaign of walkouts.
02 December 2016
Britons are among the top spenders in Europe when it comes to holidays, new research has found.
30 November 2016
The UK should think about resuming flights to the popular tourism resort of Sharm el-Sheikh, according to a major United Nations agency.
29 November 2016
Plans are in place to develop a new aviation arrangement between the UK and US, to ensure holidaymakers can still fly between the two countries once Britain departs the EU.
26 November 2016
Hundreds of Lufthansa flights have been grounded after pilots working for the airline took part in a strike.
25 November 2016
The US is warning its citizens that Europe is facing a "heightened risk of terror attacks" at Christmas markets and other seasonal holiday events.
24 November 2016
A groundbreaking radiotherapy machine that can track the changing position of tumours in real time will soon be used to treat cancer patients in the UK.
23 November 2016
Top airline bosses are urging the government to scrap air passenger duty ahead of Wednesday's Autumn Statement.
22 November 2016
Winter sun is now the most popular holiday type, according to new research conducted by travel experts.
19 November 2016
A holiday price increase of 10% on trips to Europe could cause tourists to postpone their getaways next year, experts are warning.
18 November 2016
British citizens will no longer be able to travel freely to Europe without paying a "travel tax" or filling in visa forms under plans unveiled by Brussels.