Brits planning on travelling to the climes of Europe in coming weeks will find they get even more bang for their buck as the British pound soars to a nine year high against the Euro.
UK holidaymakers will find they have 16% more cash in their pocket to spend whilst visiting the 19 countries that use the Euro thanks to the current exchange rate.
Brits last achieved such high value for money on their European holidays before the recession in 2007 and many European countries – including Spain and Portugal – have slashed their prices further in an attempt to entice sun-loving Brits.
Brits bag a bargain
Exchange rates currently offer 1.39 Euros for every 1 GBP; 15% more than was offered the same time last year.
Experts predict the pound will continue to strengthen to an exchange rate of 1.50 Euros as the uncertainty surrounding Greece’s status as a European country continues to impact the EU currency.
In light of the preferential exchange rate, Travel Supermarket’s Bob Atkinson explained that British travellers have two choices: to bag a bargain in sunny spots such as Spain or Portugal or to spend more a wider European trip and see their money go further.
Atkinson also advised travellers to cash in on the exchange rate now by ordering their currency for upcoming trips or loading a pre-paid holiday card with cash to fund trips later in the year.
“If you can commit to spending some cash, get in now and make use of the exchange rate before the holiday season kicks off,” he said.
Prices continue to drop
It’s not just the exchange rate which is offering Brits great value for money though; prices for drinks, food and entertainment are also at their lowest for years on the European continent.
Overall there is a 15% decrease in the cost of luxuries in comparison to last year while some locations have slashed prices by as much as 50%.
According to the latest Holiday Travel report by the Post Office, Portugal’s Algarve is the place to go to get the best deals as a shopping basket of holiday must-haves comes to just £33.
Crete is another high value destination with prices 20% lower than in 2014 but any European destination could work out cheaper as travel agents offer extra discounts to those booking their breaks now.
If you’re planning on heading abroad to take advantage of these delicious deals, ensure you have European travel insurance arranged well in advance so as not to lose out.
Date Created: 11/03/2015