Savvy Brits flock abroad for cheaper holidays

Money saving Brits are taking advantage of the increasingly strong pound in Europe as they jet off and splash out on continental holidays.

Despite the economic unrest, Greece is seeing a huge surge in popularity with travel firms expecting a huge rush of last-minute bank holiday bookings to these foreign shores.

The cheapest decade for holidaying Brits

With £1 now worth nearly €1.40, holidays to the 19 Eurozone countries stand at around 12% cheaper than the same time last year – making 2015 the cheapest year for holidaying in Europe for the past 10 years.

As British holidaymakers take an average of £450 spending money with them on their breaks they are saving more than £50 when heading to France, Italy or Spain due to the power of the pound.

The Association of British Travel Agents (ABTA) has also received reports from its members that holidays abroad have risen year-on-year with Turkey and Tunisia the only two exceptions due to the uncertainty surrounding domestic elections.

A spokesman from ABTA stated that the information gathered from members clearly states that European holidays are on the rise with Brits preferring to travel abroad than stay at home.

The growing strength of the pound has also contributed to more British families heading overseas, while the Eurozone crisis has prompted several countries – including Greece and Spain – to reduce their prices in a bit to attract more tourists, he added.

Angelos Koutsoudes, Website Head, said that this Sterling to Euro exchange rate has also caused Florida to lose its position as the most popular destination; being replaced by popular European countries.

Despite the rise in foreign travel this summer, many firms offering British staycations are also reporting a huge rise in business – suggesting that our love of holidays is unabated.

If you’re thinking of taking advantage of the great exchange rate, don’t forget to book your European Travel Insurance in advance

Date Created: 24/08/2015