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As many as four million Britons could head for Greece this summer, double the average number, foreign exchange company Travelex predicted. It said travel agents have reported bookings for all-inclusive holidays in Greece up a third in the last two weeks, with many tour operators slashing prices. Its survey showed that some people had deliberately booked Greek trips due to the strengthening of the pound against the euro.
Around 20% of those polled said they were "not concerned at all" about a possible collapse of the euro in Greece, with most saying they were only "mildly concerned". Fewer than 2% had cancelled a pre-booked trip to Greece, while 47% said they would not change their travel plans whatever happened in Greece.
Almost half of those polled said they expect the euro to collapse in Greece, with most of these reckoning it could happen before the end of the summer.
According to UKPA and the Press Association, Travelex said demand for the euro shot up by 290% on its website compared with a year ago, showing how holidaymakers are already moving to take advantage of the pound’s relative strength.
Elvin Eldic, regional manager of Travelex UK, which is offering a rate of just under 1.21 euro, said: "The weekend’s elections in France and Greece have thrown the eurozone into fresh turmoil, driving the pound to a three-and-a-half year high against the euro. While the pound has been hovering around a 22-month high for the past fortnight, the latest boost means tourists will be getting over 1.20 euros for every pound for the first time since November 2008. That’s an extra 52 euros for every £500 exchanged for British holidaymakers heading to the continent."
Jacqui Holt, foreign exchange director at Thomas Cook UK and Ireland, said that British tourists travelling to the eurozone will be able to get 10% more than they could a year ago with their spending money, adding: "There’s never been a better time to book a eurozone holiday."
The Post Office is also offering an online exchange rate of just under 1.21 euro, or 1.15 in branch, or more than 1.20 in branch for transactions of more than £1,000.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
