Travellers told to plan finances amid economic crisis
People who are considering travelling abroad have been advised to plan their finances carefully amid worldwide economic problems.
Mark Nancarrow, managing director of financial services at Thomas Cook, said it is currently difficult to predict future developments in the global economy.
However, he stated that the Bank of England believes that the pound will get weaker over the next few months.
This has prompted him to suggest that consumers who are heading overseas in the next few months exchange their currency as soon as possible.
Speaking to the Scotsman, he said this would be especially beneficial for those who are not taking all-inclusive package holidays.
Mr Nancarrow commented: "If you are self-catering then I suggest you buy your currency now."
However, he said the Turkish currency has been relatively stable against the pound in the last few months, which means it may offer particularly good value for money.
The comments come shortly after Murat Dedeman of the Turkish Tourism Investors Association told Reuters that foreign holidays are now considered a necessity by lots of people.
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