Holding the folding : UK prefers cash over plastic on holiday
Holidaymakers are set to splash the cash overseas with bumper currency sales of GBP2.3 billion forecast for this year according to a new Post Office® report. In fact, one in every fifteen pounds of the total GBP34 billion spent overseas this year will be bought from the Post Office®.
Launched today, the report shows cash is still the UK’s number one way to pay abroad. Almost half (47 per cent) prefer to use local currency compared to 33.6 per cent who prefer to “put it on the plastic” using their debit or credit card.
Although Traveller’s Cheques are still popular with 19 per cent of holidaymakers, as plastic becomes more popular they are slowly declining, with sales dropping by almost 12 per cent last year. Despite this, euro Travellers’ Cheque sales grew by 7.7 per cent last year .
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