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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 travel insurance.
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."
18 August 2018
Diets that replace carbohydrates with protein or fat should be avoided due to a possible association with shortened life spans, scientists have warned.
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17 August 2018
People living with HIV could be offered a long-lasting injection that controls the virus and protects patients from developing AIDS.
16 August 2018
Holidaymakers in the UK will be hit by more train price hikes from next year, after the Government announced ticket prices will increase by 3.2% in January.
15 August 2018
A simple blood test could help GPs detect a rare form of bone marrow cancer much earlier, a new study suggests.
14 August 2018
Passengers arriving at Heathrow Airport last month faced queues of over two and a half hours at passport control, new figures have revealed.
11 August 2018
Hundreds of Ryanair flights will not take off as planned on Friday due to pilot strikes in five countries.
10 August 2018
Fad diets that cut out carbs while increasing fat consumption could lead to an increased risk of diabetes, according to new research.
09 August 2018
HIV testing has become even more accessible after a self-testing kit was made available from a High Street retailer.
08 August 2018
Women patients are more likely to survive a heart attack if they are treated by a female doctor, a new US study has revealed.
07 August 2018
The head of British Airways has branded two-hour queues facing travellers at Heathrow's passport control as a "border farce."
04 August 2018
Simple factors such as gender and body mass can help doctors to personalise care for patients with type 2 diabetes and avoid harmful side effects, according to a study.
03 August 2018
Gatwick Express must no longer claim it runs "non-stop to Victoria station in half an hour" and "in just 30 minutes" unless it can achieve the time in most cases, a watchdog has ruled.