Euro rolls over… finally some good financial news

September 2012
Euro rolls over… finally some good financial news

During this time of economic woe, it’s nice to be able to report some good financial news for a change. In recent weeks the Pound has hit exchange rate levels against the Euro that have not been seen since those carefree days before anyone had heard of Lehmans and LIBOR. With the Pound now buying over 25% more than at its lowest levels, the good news is doubled.

The prices of our European holidays are less expensive because with the better exchange rate the cost to us of hotels, coaches, guides and the like are reduced and we can pass that saving on to you and your members. And when your group members go on your holiday, they will notice how many more Euros they are getting at the foreign exchange desk and how much cheaper that coffee and cake is as they relax at the pavement café.

It’s no coincidence then that already we have seen a significant increase in bookings to Europe for 2013. As compared to the bookings for 2012 at this time last year, we have nearly 65% more groups booked for flight tours to Europe next year. It seems that many of the groups who have chosen to stay in the UK over these last few years are now looking to Europe for their next group holiday.

Interest on your members’ savings and returns on share portfolios may still be pitifully low but it seems most have concluded that this is the new economic reality and they haven’t got forever to wait for it to change. The stronger Pound - and the uncertain weather - may just be the excuse you and your members need to leave our shores and go Continental.