Improving Exchange Rate
http://www.allthingslanzarote.com/articles/132/1/Improving-Exchange-Rate/Page1.html
News Editor
By News Editor
Published on 31/07/2009
The £ has sustained its recent recovery against the euro, and there are signs of continued improvement as the eurozone economies containue to feel the heat from the global recession. This means that average tourist rates have recovered by 15% since the beginning of 2009.
At the turn of the year, when other news sites and the media in general were whipping up a frenzy about the doom and gloom for the Canary Islands holiday trade, we chose to report the contrary view - that difficult times were ahead for the Eurozone economy and the euro itself, which would IMPROVE the value of the £ back towards historical levels. Difficult times for the Eurozone economy in turn means opportunities for holidaymakers and anyone else seeking to buy and spend euros rather than pounds. Other things being equal, then, we should in time see the holiday market turning around again, in response to better rates.
In other words, let's start talking the holiday industry up, not down!
According to the Financial Times, the euro is under pressure because of fears over bad loans, concerns over the exposure of banks in the region, and the central and eastern European economies in particular dragging down the single currency. Many commentators expect that trend to intensify in the future, which will benefit the holiday industry on Lanzarote.
The £ has sustained its recent recovery against the euro, and there are signs of continued improvement as the eurozone economies containue to feel the heat from the global recession. This means that average tourist rates have recovered by 15% since the beginning of 2009. At the turn of the year, when other news sites and the media in general were whipping up a frenzy about the doom and gloom for the Canary Islands holiday trade, we chose to report the contrary view - that difficult times were ahead for the Eurozone economy and the euro itself, which would IMPROVE the value of the £ back towards historical levels. Difficult times for the Eurozone economy in turn means opportunities for holidaymakers and anyone else seeking to buy and spend euros rather than pounds. Other things being equal, then, we should in time see the holiday market turning around again, in response to better rates.In other words, let's start talking the holiday industry up, not down!
According to the Financial Times, the euro is under pressure because of fears over bad loans, concerns over the exposure of banks in the region, and the central and eastern European economies in particular dragging down the single currency. Many commentators expect that trend to intensify in the future, which will benefit the holiday industry on Lanzarote.