M&S Money reports sales of Turkish currency soar with British
tourists
Released
on: October 3, 2008, 9:28 am
Press
Release Author: M&S
Money
Industry:
Financial
Press
Release Summary: M&S Money has reported that sales of Turkish
currency have soared as Brits seek holiday bargains outside the
Eurozone
Press
Release Body: M&S Money reports that the
popularity of destinations outside the Eurozone is growing among
British tourists, with Turkey emerging as a top holiday hotspot
for 2008.
Foreign
currency expert M&S
Money has seen a 53% year-on-year increase in sales
of Turkish Lira. The Turkish Lira has proved to be the second
most popular 'exotic currency'* in 2008, only being beaten to
the top spot by the Australian Dollar.
According
to the Turkish Ministry of Culture and Tourism,
the number of Brits visiting Turkey ranks third, only behind travellers
from Germany and Russia. Around 1.9 million British tourists visited
the country in 2007 and bookings for Turkish resorts are up 20%
this year according to the ABTA website.
Currency
sales have received an additional boost over the past few weeks,
as millions of Brits headed abroad to make the most of the last
Bank Holiday weekend of the summer.
Fraser
Millar, M&S Head of Travel Services, said: "The
huge increase in sales of Turkish currency is not surprising,
with the relative power of the euro against the pound meaning
Brits are getting more for their money by opting for destinations
like Turkey. This trend is confirmed by the fact that there has
also been a large increase in sales of Egyptian currency this
year."
However,
travellers heading to Turkey are being warned that they should
make sure that they have travel
insurance. According to the Foreign and Commonwealth Office,
Turkey is in the top 15 countries where British nationals required
the most consular assistance between 1 April 2006 and 31 March
2007. During this period, 157 British passports were lost in Turkey
and there were 137 hospitalisations involving British citizens.
Ends
Notes to Editors
* Exotic Currencies are defined as all currencies except US Dollar
and Euro.
About
M&S Money
M&S Money (originally called Marks & Spencer Financial
Services) was founded in 1985 as the financial services division
of Marks and Spencer Group plc. The company is now a top-ten credit
card provider and the second-largest travel
money retailer in the UK. M&S Money also offers travel
insurance as well as providing insurance for homes, cars, travel,
pets and weddings, along with loans, savings and investments.
In
November 2004, Marks & Spencer sold M&S Money to HSBC,
one of the world's largest banking and financial services organisations
with over 9,500 offices in 76 countries and territories. The business
continues to operate under the M&S Money brand, with an executive
committee comprising an equal number of representatives from HSBC
and Marks & Spencer.
The
company employs 1,200 staff at its headquarters in Chester, delivering
personal financial services to its customers, reflecting the core
values of Marks & Spencer - quality, value, service, innovation
and trust.
An
ISDN line is available for broadcast interviews
Web
Site: http://www6.marksandspencer.com
Contact
Details: For further information contact:
Liz Neild
M&S Money press office
Marks & Spencer Money
Kings Meadow
Chester
CH99 9FB
01244 686 068
2009
