Collapse of the pound against the Dollar, and to a lesser extent the Euro, mean British holiday makers will find their break in the Med, or their Disneyland trip, much more expensive this year.
Research from moneysupermarket.com reveals it will cost Brits nearly £300 more for every $1,500 spent in the States now, compared to this time last year.For European travellers the outlook isn't much better, despite the pound's recent rally against the Euro holiday makers will still pay around £85 more per €1,000 they spend this year, compared to April 2008.Peter Harrison, travel money expert at moneysupermarket.com, said: "There can be no doubt the weakening pound will have a big impact on where people can afford to go on their summer holidays this year. Trips to Europe and America are going to be much more expensive for Brits, so making sure you organise your foreign currency in good time will be more important than ever."Using a credit or debit card which doesn't levy charges for use abroad, such as the Post Office credit card, is often the best way to keep foreign currency costs down."Another option is to get a prepaid card and load it with a set amount of holiday money. The rates on these cards are amongst the best in the market for travel money, and they can help people stick to budgets."
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