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Thursday 9th February 2012

Airports See Less Currency

Published: Friday, September 11th, 2009

The recession has claimed another victim with passengers spending less money in the departure lounge than before.

Research from Santander Cards reveals that the amount that UK holidaymakers spent in airport departure lounges in the last 12 months has fallen to £378 million, down from £1 billion in September 2007.The same research also showed that holidaymakers are holding onto more currency when they return, leaving it for the next break.

For those regular travellers, it is simply more economical, given the weak pound, for travellers to keep hold of their money for their next trip, avoiding a poor exchange rate and expensive handling costs.

The research goes on to reveal that whilst the number of people who indulge in last minute spending at the airport is mostly unchanged at 35%, compared to 36% in September 2007, the average amount frittered away at the airport has dropped from £65 to £24 per spender.

And age makes a difference as well, with people aged 18 to 34 more likely to spend leftover foreign currency in the airport, with 81% of those holidaying abroad admitting to currency dumping, compared to 68% of those over 55.

Callum Gibson, Director at Santander Cards, says: “With holidaymakers trying to make their money go further this year, it’s not surprising that non-essential spending at the airport has fallen dramatically in the last 12 months. Britons are resisting the lure of departure lounge shops and either sticking to their holiday budget or holding onto any leftover foreign currency for their next trip.”

And different product types were also being effected in different ways. The airport staple of perfumes, make-up and grooming products have been worse hit, with the number of returning holidaymakers buying perfume or aftershave at the airport falling from 31% to 20%.

But certain areas did better, with food and drink leading the way with a significant rise from 58% to 70%. Books also did well, rising from 13% to 17%; toiletries also showed an increase, from 8% to 11%; and, clothes also notched up a slight gain from 4% to 5%.

Which perhaps shows that passengers are limiting themselves to the necessities in life and steering clear of the luxury items.

Guest Article by Neil Camp

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Alan PottsMy name is Alan Potts and I'm the Editor of the BUYability web site and Managing Director of BUYability Limited. You can connect with me or keep up to date with new posts on this blog via the following social media sites:

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