2008 News Archive - Holidays - Costs for holidaymakers 'lower' in Cyprus and Malta
09 01 2008
The entry of Cyprus and Malta into the so-called "euro zone" could have an impact on holidaymakers, it has been suggested.
Post Office reports that costs for holidaymakers in these regions are currently lower than in other countries using the euro such as France and Spain, however it warns that this could change now that Malta and Cyprus have joined the euro ranks.
Moreover, Post Office claims that prior to Spain's switch to the euro in 2002 the country - along with Greece - were the cheapest major holiday destinations that Brits could travel to.
Following the currency change, prices in Spain quickly rose, the commentator reveals.
"We know that [Cyprus and Malta] are among the most popular holiday choices for our customers. We hope that prices will not rocket as they did in 2002 for the original euro currencies," commented Post Office head of travel services Helen Warburton.
She added that travellers should "keep abreast" of price-rise news.
BuyAssociation recently reported that low cost flight routes from the UK to Malta and Cyprus will have a positive effect on the foreign property markets in these countries.