Dec
16

Pound to Euro – 1 pound for 1 Euro maybe a reality soon

With the ‘pound to Euro’ gap narrowing, some are  predicting the euro exchange rate to be ‘one for one’ in the near future.

The UK pound is also struggling against the dollar, which itself is under pressure from the euro.

What effect is this having on the ‘credit crunched’ British public?

We are finding that trips to europe are increasingly becoming an expensive way of taking a short break as this report in Bloomberg points out

Country musician Rob Childs shook his head in disbelief after buying euros at London’s St. Pancras International train station. After paying commission, he got 57 euros ($77) for 60 pounds ($90), as the rate of 1.0185 euros at the International Currency Exchange he used heads toward parity. A year ago, he would have received about 80 euros.

Every Cloud

While the exchange rate presents a headache for some, its not all bad news. The economic climate has made some people think again about their short breaks and holidays in the UK.

The fall in the value of the pound represents a 21 per cent saving for people travelling to the UK from the Eurozone and 27 per cent for those from the USA. This makes the UK the value destination for overseas visitors undertaking holidays during 2009 and means that a holiday at home is now the best option for British residents. – Bob Cotton (Tourism Alliance)

From our perspective at Visit Wales its a great opportunity to introduce people to the variety of things to do and places to stay in Wales.

Exchange rate turmoil and credit crunch aside, if you haven’t considered a short break in Wales before, we think you should give it a try, if you are a regular visitor, we would love to see more of you!