London, the money saving capital
Many of people from the UK would see going on holiday as a perfect way to save a bundle on all sorts of products such as clothes and perfumes. With some saving all year long and leaving the country with an empty suitcase to bring back a whole wardrobe for the up and coming year. As prices could be as low as half price, like the United States for example. When you could pretty much get 2 Dollars to the pound, people would flock over their to take advantage of the strong pound and bag almost half price deals with lower rates of tax on the products.
With the economy shrinking and the pound weakening it shows that it’s the other way around, as it stand the pound will only get you at some Exchange rates, you would only get around 1 Euro and 20 Cents. This is the lowest the Pound has been for over 17 years, and it is set to drop even further. As the recession bits even harder on the UK economy some top economist say that the Pound could be on the same par as the Euro. Making exchange rates great for our foreign visitors. The fall in the pound has been the largest and fastest fall for some time. In just one year to date, the pound has fallen by 20%.
Were as London and Britain in fact was known for being expensive and not a lot of tourist would actually purchase anything from our high streets stores, a report today from the high street stores say in fact this has all changed and that every one from all around the world are picking up so many bargains. With the pound falling so dramatically by 20% and the mix of low sales in retail stores, this has forced many stores to have large sale reductions in an attempted to lure people into their shop. So with the mix of this many from across the shores are picking up some great deals, which could be a good thing as this would encourage more people from abroad to come to our little island to purchase goods. This would have a fantastic affect on the UK economy.
