Tourism to Spain Up as Euro Goes Down

Spain's currency, the euro, continues its drop in value just as figures reveal that travel to Spain was up in June over the previous years.

Last week I reported on the euro's weak position in relation to the dollar. This week it's the turn of the British pound to have a strong showing against Europe's biggest currency.

The pound bought 1.28€ this morning, the most since the Lehman Brothers collapse in 2008. Though it is recovered a little as trading continued today, the pound still buys 25% more euros than it did three-and-a-half years ago, when the two currencies reached almost parity.

Meanwhile, prices have remained static, if not dropped, in many bars, restaurants and hotels in Spain, meaning that British tourists are probably getting around a third-better value for money than they were just a few years ago.

This has no doubt played a part in the rise in tourism to Spain that has taken place in recent months. June 2012 saw 4.7% more tourists than in the previous year, with 8% more Brits taking advantage of the stronger pound.

Further Reading

• Planning Your Trip to Spain
• Best of Spain