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Spending power down

THE purchasing power of British holidaymakers has declined in nearly all the major European holiday destinations, research out today shows.

Travellers to Spain this year will find their money going 16% less far than in 2002, figures from Halifax Travel Insurance said.

Purchasing power in Italy has fallen 14%, while Germany is down 13%, France down 12% and Greece down 11%.

Britons would do best to head for non-EU country Switzerland, where purchasing power has risen 23% since 1996.

The comparisons with 1996 for other non-EU countries showed that spending power in Japan for Britons is now 23% better, while Australia is 7% down, USA 5% down and New Zealand 4% down.

Vicky Emmott, senior underwriting manager for Halifax Travel Insurance, said: "It is important when choosing a holiday destination that travellers not only consider the cost of travel and accommodation, but also how much it will cost to purchase goods and services when they are in the country.

"Holidaymakers should check the newspapers to see how the pound is performing against other currencies and ask their travel operator how expensive it is to eat out and visit attractions at their preferred destination."