How travelling to the Euro-zone can affect your holiday spending
The Euro-zone crisis has commandeered a great deal of our news this year; highlighting a tempestuous time in European politics. With France and Germany determined to keep Greece in the euro-zone, the question on many a holidaymakers lips is “am I going to have enough holiday spending money?”
Progress is however being made one small step at a time; and millions of UK holidaymakers still continue to take their annual trips in the European countries hit hardest by the currency catastrophe.
Head to the Mediterranean for cheap deals
The enticement of al fresco dining and sun soaked beaches in destinations such as Greece, Italy, Spain and France remains as strong as ever; with holiday prices lowering, and local bars and restaurants competing against each other with even lower prices.
Whilst locals cut back on their spending due to the crisis; businesses have had no choice other than to reduce their prices to continually attract holidaymakers to their establishments. The Euro is weak and holidaymakers travelling to Europe are benefitting greatly from it.
The Euro can save you a great deal of money
Despite riots and strikes across Europe, demand for holidays has remained unaffected by the crisis; ensuring the majority of hotels being able to hold their rates at a steady price. Regardless of accommodation costs being altered at a minimum; the main savings holiday-goers are experiencing are with the exchange rate. There’s no hiding the fact that the Euro is a great deal cheaper than it has been over the recent years; guaranteeing a greater return for your hard earned cash.
If you are travelling in the Euro-zone and fear that your holiday expenditure could spiral out of control; stop worrying. The Euro isn’t going anywhere, and if you shop around early; you can be assured to find a very reasonable exchange rate. As is the case with all travel expenses including travel insurance, flights & accommodation, one thing you should never do is wait until the last minute when exchanging currency; as it leaves you with no other choice than to accept the rate you are offered; whether good or bad.
Ways to cut costs
If you are worried about the possibility of incurring extra costs whilst using your credit card abroad; the alternative of a pre-paid card is quickly becoming one of the most popular ways to pay. They can be used to withdraw money from ATM machines, as well as in shops to pay for goods. Not only does this eliminate additional charges; it also insures you against theft or loss of vital currency when overseas. The Post Office has also recently reported a 90% increase in customers preferring to spend their euros this way.
It is impossible to accurately predict what may happen with the euro in the currency exchange markets; however holiday spending across the euro-zone is at a peak with the GBP being so strong. £500 last year would have you looking at a mere €560 in exchange. Whereas now you are looking in the region of €620 – in the current climate, it’s no longer “unacerveza”, but “dos cerveza, por favour!”