How UK tourists are winners in euro crisis

MILLIONS heading to Europe this weekend can expect more for their money after the pound hit a four- year high against the battered euro.

Every £1 will buy around 20 per cent more than last year in hot spots such as Spain and Greece.

While the pound is worth around 1.28 euros on international currency exchanges, the rate available to tourists is a lower 1.24. But this is still the highest level since 2008 and compares with just 1.04 a year ago.

Up to 2million British holidaymakers are set to head overseas this weekend after schools broke up for summer this week.

Tourists to resorts in the eurozone will have the equivalent of around £100 more to spend than a year ago if they change £500 into euros, according to research by the Post Office.

British holidaymakers to Majorca will pay around £1.32 for a bottle of beer, just over £1 for a cup of coffee and £43.86 for a three-course meal with drinks for a family of four.

Mark Tanzer, chief executive of the Association of British Travel Agents, said: ‘ Eurozone destinations are proving popular with holidaymakers looking to take advantage of the pound’s strengthening against the euro, coupled with the fact that many bars and restaurants have lowered their prices.’ Just as hundreds of thousands of foreign visitors are arriving in the UK for the Olympics, so huge numbers are departing these shores. Airports say 482,000 passengers will leave from Heathrow, 275,000 from Gatwick, 132,500 from Stansted and 70,000 from Luton this weekend.

More than 100,000 will leave from Scottish airports, with 50,000 from Glasgow alone.

It is expected that 297,000 will leave from Manchester, 64,000 from Birmingham and 45,000 from Bristol. Other regional airports, ferry terminals and the channel tunnel will also be extremely busy this weekend. Eurostar says it will have 50,000 passengers leaving the UK, with Paris, Amsterdam and Lyon the most popular destinations.

Andrew Brown, head of travel money at the Post Office, said: ‘ Sterling’s growing strength is great news for families heading abroad during the school holidays.

‘The sterling gain extends to other European currencies too, which means that families travelling to the Continent in the coming weeks can cash in on some great value.’

Holidaymakers will get almost 23 per cent more Hungarian forints for their pounds than a year ago. That equates to around £92 more for someone changing £500.

Sterling is also up by more than 20 per cent against the Polish zloty and 18 per cent against the Czech koruna.

While currency movements have shifted in favour of British travellers in Europe, other factors will wipe out some of the gains.

For example, Spain is putting up VAT rates from August 1, which will mean higher prices on many things, including restaurant meals.