The pound has hit a 15 month high against the euro being worth €1.21 which is its strongest level since the middle of September 2010. During the 2011 low six months ago Britons on holiday in Spain were getting just €1.10 per pound.
This is good news for British holidaymakers who have avoided Spain since late 2008 and 2011 because of high prices caused by the unfavourable exchange rate. The new exchange rate represents approximately €95 extra for every £500 exchanged.
Post Office Travel Money are predicting that Spain will be the big Eurozone winner as holidaymakers start making their travel plans for this year with resort prices pegged at last year’s low levels.
The biggest challenge comes from neighbouring Portugal and it remains to be seen whether debt-stricken Greece will cut food and drink prices that are currently almost twice as expensive as those in Spain.
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