Who Uses the Euro?

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Survey shows foreign currency confusion over which European countries are on the euro.

A report out this week has revealed that many UK holidaymakers are making unwise holiday choices due to misinformation about what countries use the euro.

The survey, commissioned by Post Office Travel Services, showed that holidaymakers heading for the cheapest places in Europe often find themselves paying over the odds for their foreign currency, in countries they mistakenly believed were outside the eurozone. With cheap flights and accommodation readily available, consumers also need to check how far their travel money will actually go.

More than half of respondents were unaware that traditional cheap European holiday destinations such as Slovakia and Malta have now joined the euro, making the foreign exchange rate expensive for UK visitors. The pound has fallen by almost 17% against the euro as a result of the economic downturn, leaving British tourists struggling to find destinations with a favourable foreign exchange rate.

Countries mistakenly believed to be outside the eurozone include:

Country    Percentage of respondents who believe the country is outside the euro

Slovakia: 74
Malta: 61
Cyprus: 59
Austria: 43
Greece: 27
Portugal: 21

Andrew Spice of Post Office® Travel Services said: "Confusion about the most commonly used currencies in Europe is a worrying indication that UK holidaymakers may choose a holiday destination that will cost them more money at just the time when every penny counts. People may be well aware that sterling has slumped against the euro but they also need to know which countries do and don't use the currency so that they can make an informed decision about where to holiday."

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Melanie Seasons
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