Euro fever overshadows pound’s strength against other currencies
Euro fever – and we’re not talking about the football - is gripping the nation and putting traditional holiday haunts such as Spain and France firmly back on the map but is this overshadowing the potential for cost-saving that still remains outside the Eurozone?
A European beach holiday has perhaps unsurprisingly topped the polls in a survey by prepaid MasterCard currency card provider my Travel Cash, with over two thirds of holidaymakers having been enticed by the continent.
The current good euro rate, whilst undoubtedly great news for holidaymakers, has resulted in destinations outside the Eurozone being shelved for summer 2012. With the Pound strengthening against various other world currencies, and with living costs outside the Eurozone remaining competitive, destinations such as Bulgaria and Poland should still be giving Europe a run for its money – a family of four can expect to pay almost £1,500 for a week in Spain whereas the same trip to Poland would cost approximately just under £1,000.
When comparing standard holiday purchases, the proof is definitely in the pint! While a lager will cost the equivalent of £0.78 in Bulgaria, visitors to Spain can expect to pay more than double for the same drink. Even the cost of a simple trip down the beach could be halved or doubled dependent on the two destinations. In Bulgaria, ice-cream cones for a family of four would cost the equivalent of €4 whereas the same purchase in Spain could result in a bill of nearly €25 – almost six times the cost!
Myles Stephenson, CEO of my Travel Cash commented: “With the current strength of the Pound against the Euro holiday-makers and travellers are rushing to take advantage, having been swayed by a European destination.
“However it’s set to be a good year for British holiday makers, no matter the destination, as Sterling has strengthened against other world currencies, not just the Euro. Further afield destinations have typically been hailed as cost-effective due to the lower cost of living whilst there – holiday essentials can work out cheaper in the likes of Poland or Bulgaria than in more popular resorts in Spain, for example.
“At my Travel Cash, we’re committed to giving our customers the best exchange rate we can possibly give – that’s why we track the market every 15 minutes to ensure we offer the most current prices. Using a my Travel Cash card wherever they are will ensure their money goes even further, as we do not charge for ATM withdrawals*, and we even offer 1% cashback on all purchases made on the card.”
my Travel Cash’s commitment to customers was highlighted in early 2012 when it was highly commended in the Best Prepaid Currency Card category in the Consumer MoneyFacts Awards, in which over 60,000 consumers voted.
Visit mytravelcash.com for information about terms, fees or to order a card by completing the short form. An Express Delivery option is available allowing cards to be delivered in just 1-3 working days.
my Travel Cash also offers a currency home delivery service.