LONDON: New York, long a shoppers' paradise, has become even more attractive with the pound now buying nearly two dollars, and British consumers are rushing in to stock up for Christmas.
Flight bookings to the US are on the increase as sterling hovers around a two-year high against the pressured dollar -- giving UK shoppers more spending power Stateside.
Sterling rose as high as $1.9465 on Monday -- its highest since December 2004.
Dee Byrne, a spokeswoman for the Association of British Travel Agents, said the strong pound had boosted the US short-break market.
“There has been an upturn in bookings to the States, for Christmas shopping in particular,” she said.
“People are going to New York to do their Christmas shopping, where they will get much more for their money: it couldn't have come at a better time.”
Growing demand has, however, not resulted in higher airline prices, with a raft of competitive deals further stoking passenger numbers.
“Fares are generally low, which makes it even more attractive,” said Byrne.
And with a record number of Britons set to flee the UK this Christmas, those who choose their destination wisely could make their spending money stretch further.
The number of people spending Christmas abroad has ballooned over the past five years and research by Halifax showed on today that 2.5 million people will jet off this year.
Some 47 per cent plan to visit family or friends, while 26 per cent want to escape “Christmas mania” and 22 per cent the British weather.
Vicky Watson, senior product manager at Halifax Travel Insurance, said: “Britons no longer feel compelled to spend Christmas in the traditional fashion.
“More and more people want to use the time off work as another opportunity to indulge their passion for travel.”
Some 4.57 billion pounds is expected to be changed into foreign currency during the festive season.—Reuters
