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American Express Q3 Currency Index

Brits opted for pastures known for their 2010 summer getaways

British holidaymakers travelled to pastures known this summer, with 2009 favourites and long-haul destinations holding firm in 2010. Terry Perrin, Director of Trading & Business Development at American Express Global Foreign Exchange Services explains: "Turkey and Egypt are growing in popularity year on year as holiday destinations for Brits. Month on month Egypt and Turkey are proving more popular than ever before…


British holidaymakers
travelled to pastures known this summer, with 2009 favourites and long-haul destinations holding firm in 2010. Terry Perrin, Director of Trading & Business Development at American Express Global Foreign Exchange Services explains: "Turkey and Egypt are growing in popularity year on year as holiday destinations for Brits. Month on month Egypt and Turkey are proving more popular than ever before. This trend only looks set to increase further in 2011, ensuring they will continue to be the top holiday hotspots for at least another year."

Long-haul growth as Brits seek guaranteed sunshine Whilst Brits have shown their loyalty to 2009 favourites, long-haul favourites such as Mexico and New Zealand also proved their popularity after climbing the American Express Global Foreign Exchange Currency Index for the last quarter in comparison to the same time last year.

Perrin continues: "With the sun shining in July, people were happy to stay and enjoy the British weather while it lasted. However, as Augustbrought colder temperatures people sought guaranteed sunshine."

"With the current volatile economic climate, we’re finding that holidaymakers are choosing all-inclusive destinations which are more common with long-haul trips – to ensure that they know exactly what they will be spending on their holiday before they leave. They then don’t need to worry about exchange rate fluctuations or how much they will be spending on their holiday."

US favour flashback
The American Express Global Foreign Exchange Services also reveals an increased share for the US Dollar, taking a bite from demand for the Euro, as holidaymakers start to look at the US as a top holiday hot-spot once more.

Perrin says: "As the pound begins to regain ground against the dollar, British holidaymakers are once again opting to get more value for their money with more people booking holidays to the US."

About the American Express Currency Index: The Quarterly Currency Index launched by American Express Global Foreign Exchange Services in August 2009 provides industry leading insight into year on year industry trends and fluctuations in demand for foreign currencies. Leveraging American Express extensive Wholesale Currency Service database featuring 80 of the world’s currencies, the Index focuses on the top 25 best selling currencies as purchased in the UK.

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