Foreign exchange transactions may increase beyond eurozone

Foreign exchange rates are pushing Brits to stay beyond the eurozone, industry experts report.

The United Nations World Tourism Organisation (UNWTO) recently stated that UK visitors are increasingly drawn to more affordable destinations.

John Kester, chief of market trends from UNWTO, explained that the strong euro means Brits may be more likely to make foreign exchange transactions in Africa and Turkey, rather than Europe.

Mr Kester added that the deepening recession has had a negative impact on the tourism of some destinations on the continent as visitors spend their money in other locations.

"Looking at the Mediterranean overall, what we are seeing is that the euro-area countries are feeling the impact more than the non euro-area countries," he said.

"Certainly on a value-for-money basis, countries like Turkey, Tunisia and Morocco have done comparatively better than southern Europe."

Meanwhile, the European Central Bank recently stated that it sees the continent's economy stabilising by the end of the year.

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By Linsey Summers