Strength of sterling against euro brings down cost of EU businessPosted: March 4, 2015
By Phil Davies | 04 March 2015 at 11.08 GMT
British business travellers going to the EU could save around £66 per trip on the value of their spending money due to the strength of the pound, new research reveals.
Analysis by travel money business Centtrip shows that sterling is now worth about 15% more against the euro than it was this time two years ago.
British businesses made around 4.67 million trips to the EU in 2013, spending a total of £2 billion when there.
If the valuation of sterling against the euro remains the same this year when compared to two years ago, travellers could spend on average £65.99 less and have about the same spending power they did in 2013, according to the research.
It estimates that two years ago businesses spent around £428.78 when in the EU on business. To have the same level of spending money today they only need to spend around £362.79.
Company co-founder and managing director Brian Jamieson said: “As sterling continues to grow against the euro, the power of our spending money whilst on business in the EU increases.
“Sterling has recently hit new seven-year highs versus the euro, and many of our business customers are locking in current attractive rates and buying euros to use today or at a later date.”
Sourced from Travel Weekly