Markets & insights

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Plastic and electronic spend, excluding pre-paid travel cards, is 67.5% of total outbound spend⁽⁶⁾.
Foreign currency in the form of notes, traveller’s cheques and pre-paid cards still provide the best value⁽⁵⁾.
The cash and traveller’s cheque market will grow at a slower rate than the rest of the market (2% year on year)^(5/6).

In 2007, 63% of the online community booked all or part of their main holiday online; 78% of the online community researched their holiday online⁽⁴⁾.
An average 6% of travellers purchased currency online during 2007⁽³⁾.
Transactions through online channels have a higher AVT (average value transaction) than transactions in-branch⁽⁵⁾.
Foreign exchange customers who choose their bank as a foreign exchange supplier are more affluent and 70% of the online community are ABC1s (these factors drive the increased AVT of online transactions)^(3,4).
TMO provides a means to target new youthful segments, optimistic families and the growing time/cash rich, frequent holiday-taking ‘silver surfers’⁽³⁾.

These are our top ten currencies, excluding Euro and Dollar, Cypriot Pound and Maltese Lira (these countries adopted the Euro from early 2008).

Read ‘The Holiday Money Report 2007’, a look at trends and predictions from First Rate and the Post Office^®.

(2) Travel & Tourism Market, Market Review September 2007, Key Note Ltd.

(3) Ipsos-MORI – Travel Money Omnibus 2007 (base = 6,000 foreign currency buyers).

(5) First Rate Research/Historical data.