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Falling pound sparks boom in all-inclusive holidays
Friday, April 18, 2008

The weakening pound against the euro has given a boost to the all-inclusive holiday market and one leading tour operator is predicting a boom in sales as savvy Brits cash in on all-in packages to popular tourist destinations in Europe.

Sales of all-inclusive holidays – which cater for all the food, drink, snacks and entertainment needs of holidaymakers – at tour operator Jet2holidays.com have shown a spike in sales of 63 per cent year-on-year. In the last week alone, sales have increased by 37 per cent.

Since the start of 2007 the pound-euro exchange rate has fallen from a high on 22 January 2007 when one euro cost 65.4p, to a low on 11 April 2008 when it cost 80.1p – effectively meaning the cost of living in European resorts has risen by 22.5%*.

A recent survey, carried out by Halifax Travel Insurance, shows that one-third of all holidays booked by Brits are all-inclusive, suggesting that consumers are taking the safer resort-based holiday option.

Mandy Round, General Manager, at Jet2holidays.com, said: “With the value of the pound devaluing so much against the euro, savvy customers are opting for all-inclusive deals.

“Just like fixing a mortgage deal, taking an all-inclusive break means you can pretty much fix your holiday spending in the sun as everything in resort – from ice creams, food, drink and snacks – is taken care of.

“We are not of the opinion that the credit crunch and mortgage rate worries are going to stop consumers taking holidays abroad – they are just being more sensible about their choices.”

*Source: European Central Bank.

Michael Verikios - Friday, April 18, 2008
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Poll
The imminent privatization of Olympic Airlines is expected to change the fate of this debt-laden airline. What do you think the new owner should do in regard to the brand name of the Greek national flag carrier?.

Keep “Olympic Airlines” as the name of the company as it remains a strong brand.

The company should keep “Olympic” as an element of its name but refresh the brand (e.g. “New Olympic Airlines”).

The airline should drop “Olympic” from its name. This brand has lost its value and isn’t relevant to the market anymore.

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