Everyone is talking about it at the moment, in fact since late December, a day doesn’t pass without someone on the TV mentioning it…the value of Sterling. In the past six months the value of the pound has fallen by 35% against the Euro…and the dollar, and where will it end?
Recently, I bought a present that was dual priced, in Euros and pounds, 30 Euros or £20. Fortunately, I had to pay the sterling value; if I had had to pay in Euros it would have effectively cost me £30! Such is the way the pound is falling.
We are all aware that inflation exists, and we get used to having to pay a little extra year on year…But what about your summer holiday this year? Have you stopped to think about the slump in Sterling and how it is going to affect the cost of your holiday?
This time last year the pound was worth around 1 Euro 50 cents now it’s worth about 1 Euro!
So how will this fall affect your holiday decision this year? Well, if you usually visit a European country for your holiday, one that uses the Euro, you are going to see a significant rise in the cost of everything, from sun tan lotion to meals out, attraction tickets, even souvenirs.
When considering this year’s holiday, in order to get the maximum value of your money, think about revising your choice of destination. Explore the option of visiting a destination where the value of the pound has stayed relatively stable against the local currency, or think about staying in Britain.
If you live outside the British Isles and have the Euro or Dollar as your local currency, welcome to the cheap holiday destination! After all, if we’re experiencing an effective 35% increase in costs abroad, that means a 35% reduction for you, and a great bargain holiday.