Euro reaches all time high as Brits spend record amount on European holidays

Edited by the Insidemoneytalk editorial team Mar 13, 2008

M and S Travel Money has worked out that the amount of money spent by British holidaymakers in Europe last year would be equal to stacking the Eiffel Tower on top of itself nearly 2,000 times.

At almost £18 billion in value, the amount of euros spent by Brits abroad has reached its highest since euro notes and coins were launched in 2002.

Stacked vertically, in packs of five euro notes, it would reach a height of more than 552,000 metres (approximately 1.8 million feet).

M and S Travel Money is expecting the upward trend in euro spend to continue this year, particularly with an early Easter giving holidaymakers the chance to escape to the sun sooner than usual.

M and S Travel Money Manager, Fraser Millar, said: "The euro is our favourite form of holiday cash, accounting for 58% of all currency sales in the UK.

With the recent wintry weather at home, and an early start on the spring/summer season, 2008 could be another record year for the euro." M and S Travel Money is available at bureaux de change in over 100 stores, and by telephone on 0800 363 484.