Brits benefit from excellent exchange rates

Exchange rates favourable for Brits travelling abroad

British holidaymakers are benefiting from excellent exchange rates when arranging their travel money but are spending less when abroad, official figures show.

However, despite spending less, Britons are taking more trips overseas.

According to the Office for National Statistics (ONS) the number of UK travellers heading overseas in the first half of 2014 increased by 4% to more than 27 million, but they spent nearly £13 billion, less than between January and June last year.

In the same period the pound gained in strength against currencies such as the euro and the US dollar.

There was little change in the money foreign tourists spent in the UK in the first half of the year, close to £9 billion, compared to the same period in 2013. Last year overseas visitors spent more than £20 billion in Britain for the first time ever.

Foreign visitors made more than 16 million trips to Britain in the first half of 2014, 8% more than the first six months of last year.

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Brits benefit from excellent exchange rates  | | © Press Association 2014