Winter Ski Not Snow Bad

Date: Jan 30, 2008

The declining Euro rate is causing British wintersports enthusiasts to choose emerging ski resorts over traditional European favourites according to foreign exchange specialist Travelex.co.uk

In the last few weeks the strength of the pound has plummeted against the Euro, offering UK tourists the worst exchange rate since the currency was introduced in 2002. Whilst the Euro remains the most sought after currency, Travelex has seen a surge in demand for Slovakian Koruna and Bulgarian Lev suggesting that skiers and snowboarders from the UK are ditching established destinations in Europe in favour of emerging resorts.  

One of the factors effecting demand is the exchange rate for each destination.
Despite the pound plummeting in value against the Euro, it has remained strong against a number of currencies including the Koruna and the Lev.

Travelex.co.uk Director, Anthony Hudson says, “The Euro has continued to strengthen against the pound, however the US and Canadian dollar as well as the likes of the Bulgarian Lev continue to offer good value for holiday makers.  This means there are alternative destinations outside of the Euro-zone where travellers will find their money goes further. We recommend travellers keep a close eye on exchange rates before they book their holidays otherwise they may end up spending significantly more than last year."

Figures published by Travelex.co.uk today show that current exchange rates and the power of the pound in the newer resorts could save a skiing couple an average of £768.20 on a one week trip. Research reveals that a week skiing in Bansko, Bulgaria costs just £1,110 per couple, compared to a staggering £1878.20 for the same holiday in St Anton, Austria, a difference of more than £750.

The cost of living also plays a large part in the overall price of the holiday. For example, a pint of beer in Solvakian resort of Jasna costs as little as 80p compared to a minimum of £4.73 in Val D’Isere, France, an estimated difference of £180 per couple on a one week holiday.

Equipment hire, ski passes and accommodation costs are also significantly lower in emerging resorts. A 7 day ski pass in Bankso, Bulgaria will cost just £230 compared to a whopping £390 in St Anton, Austria.

Jacqueline Potter from South London comments, “For years I’ve skied in resorts like Val d’Isere, St Anton and Courchevel, which have proven to be really expensive. This year a bunch of us decided to try Zakopane in Poland. The lifts were a bit ancient but they had decent snow and it was ridiculously cheap – from eating out, drinking, ski passes and rental. I saved myself a fortune!!”

Comparative chart of emerging and traditionally popular ski resorts, January 2007

*Après ski calculated by the cost of a pint of beer x the average estimated amount of pints consumed per couple on a 7 day ski trip
*Equipment hire including skis, poles and boots
*Travel including flights and transfers
*Accommodation including 7 nights at a 4* hotel
For best price foreign exchange or to track currency rates, visit www.travelex.co.uk

NOTES TO EDITORS

Case study available for interview or comment.

Kat McGettigan or Nathan Kemp

Kat.McGettigan@talkpr.com or Nathank@talkpr.com
020 7544 3804 /0207 543 4670
07863159494 / 07766977318

About Travelex:

Travelex is the world's largest foreign exchange specialist with over 700 retail branches and 16,000 business customers. There are retail branches at key airport, seaport and rail locations, in addition to tourist and business centres around the world. Over 40% of travellers and 1.5 billion passengers pass through airports at which the business operates including the major gateways at London, New York, Hong Kong, Frankfurt and Sydney.

Travelex is also the world's largest non-bank provider of international payment services, providing integrated payment solutions for businesses. The group is also one of the world's leading providers of outsourced travel money to banks, travel agencies and other financial institutions and one of the world's oldest issuers of Travellers Cheques.