Eurozone 'on the way back'

An improvement in the value of sterling against the euro is making the continent popular again, it has been stated.

Tourism expert at travelsupermarket.com Bob Atkinson said the rise in the pound past EUR1.16 is ensuring that the popularity of the eurozone as a holiday destination is starting to return.

Such a situation may also boost property investors, partly due to the greater value they can get for their sterling and also as an increase in tourism may help bolster the holiday lettings sector.

Discussing Spain, Mr Atkinson said: "Spain has not died; it is not the end of Spain and the eurozone. The euro is back at 1.16 [euros to the pound] anyway so it is climbing back."

Other places he said are popular due to their low cost for Britons include Turkey, Egypt, Morocco and Bulgaria.

Earlier this week the pound gained against the euro following comments by new Bank of England Monetary Policy Committee member Adam Posen that sterling will trade higher in the medium term against the European currency.

Like this? Then share with your friends and colleagues!