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Weak pound shifts Brits’ holiday spots - Economic Times

Weak pound shifts Brits’ holiday spots Economic Times, India - Jun 30, 2008 As the summer holiday season begins, sterling’s frailty coupled with a rise in airfares due to soaring oil prices are changing Britons’ holiday plans in ...

Weak pound shifts Brits’ holiday spots - Economic Times
A weak currency makes travel abroadpainful, as tourists receive less when they exchange their money in many places.Travellers from the UK are already shelling out for fuel surcharges, as oilprices have nearly tripled in the last 18 months. As the summer holiday season begins, sterling’sfrailty coupled with a rise in airfares due to soaring oil prices are changingBritons’ holiday plans in Europe –– by far their most popularplayground. Awaiting his flight at London’s City Airportearlier this month, Bentley said the weak pound was making it hard to travel inthe euro zone. But whileholiday mainstays like France and Italy –– euro zone countries whosesingle currency hovers near a record high against sterling –– remaina magnet for UK tourists, cheaper European destinations outside the euro zoneare gaining in popularity. That figure is easily double the 23.6 million Europeans who holidayed inthe UK during the same period, suggesting Britons for now at least remain keento flock to Europe. The United States is also gaining inpopularity because of a weak dollar, even though it is much further away. Thepound has been pummelled by a slowing UK economy as a struggling housing marketweighs on consumer confidence and growth. Turkish figures show UKarrivals to the country rose nearly 10% in May from the same month last year,having climbed 17% since January. WithBritain’s summer shaping up cold, wet and expensive, there is not muchsign of a big shift to stay-at-home tourism: visits to Europe by UK residents inthe year through to April slipped only by 1% to 55.2 million, official datashow.