Millions forego European holidays

Hotel News - 11/07/2011

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Britons who would normally be jetting off abroad on summer sunshine holidays will be staying at home or seeking cheaper alternatives as the battered economy, a weak pound and soaring prices put the annual tradition out of reach to millions. The continued weakening of Sterling against the euro is making many of the destinations in Europe simply too expensive compared to last year.

At some hotels, tourists are shocked to find themselves offered paltry exchange rates below one euro for a British pound. Against the euro, the pound has lost more than a fifth of its value over the last four years, making classic holiday favourites like Italy, Spain and France too pricey for many British travellers.

Add in the increased prices in some of Europe’s cities, and tourists aiming to head for many of the leading resorts on the continent and around the Mediterranean simply can’t afford to enjoy such holidays this year. According to numbers the Post Office has collected, a basket of typical holiday shopping items in Italy comes out at roughly 80 per cent pricier this year than back in 2007.

A three-course dinner for two, including a bottle of house wine, has risen from a little under £29 in 2007 to a whopping £57 today. In Spain, the price for a cup of coffee has also risen nearly 60 per cent in the last four years, going from 71p to £1.13.

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