Currency dumping at the airport falls dramatically

The amount that British holidaymakers spent in airport departure lounges in the last 12 months has fallen to £378 million, down from £1 billion in September 2007, new research by Santander Cards has revealed.

Departure lounge shops are feeling the pinch as Britons tighten their belts in the difficult economic conditions and the weak pound makes it more economic for holidaymakers to hold onto leftover foreign currency for their next trip rather than use it up at the airport.

While the number of Britons who indulge in last minute spending at the airport has remained largely unchanged at 35 per cent, compared to 36 per cent in September 2007, the average amount frittered away at the airport has fallen significantly from £65 to £24 per spender.

Grooming products have been worse hit, with the number of returning holidaymakers buying perfume or aftershave at the airport falling from 31 per cent to 20 per cent. Only four areas recorded increased spend - food and drink (increasing to 70 per cent from 58 per cent), books (17 per cent from 13 per cent), toiletries (11 per cent from eight per cent) and clothes (five per cent from four per cent).

The research also found that people aged 18 to 34 are more likely to spend leftover foreign currency in the airport, with 81 per cent of those holidaying abroad admitting to currency dumping, compared to 68 per cent of those over 55.

Callum Gibson, Director at Santander Cards, says: "With holidaymakers trying to make their money go further this year, it's not surprising that non-essential spending at the airport has fallen dramatically in the last 12 months. Britons are resisting the lure of departure lounge shops and either sticking to their holiday budget or holding onto any leftover foreign currency for their next trip.

"For holidaymakers who don't want the hassle and expense of either using up leftover foreign currency at the end of their trip or changing it back, Santander's Zero credit card is ideal for spending abroad, being the only card on the market with no foreign exchange fee anywhere in the world and no cash advance fee. It also offers 0 per cent on balance transfers for 12 months and purchases for three months, making it the ultimate all-rounder this summer."

For more information, visit santandercards.co.uk