Getting The Best Exchange Rate For Euros During The 2012 Olympics

August 2nd, 2012

It’s April 2012 and the pound is strong – as we approach the 2012 Olympics, getting the best exchange rate for euros could become increasingly difficult as the UK’s economy is predicted to flourish and the pound strengthen against both the euro and other important foreign currencies. Some however believe that this Olympic related economic boost could end up being a false economy. Ever since London secured its Olympic bid back in 2005, it has been debated by economic experts worldwide how this might impact on the UK’s economy. When the bid was won, the UK economy was flourishing; however the 2008 global downturn meant a potential boost like that of the 2012 Olympics was much needed.

There is no doubt the UK economy has been given a boost in the years leading up to the world’s most prestigious and influential sporting event. House prices in the surrounding areas have increased, as has employment – nearly 40,000 jobs have been created as a result of the 2012 Olympics. Construction jobs, shopping centres, food halls, housing, the list is endless. Many tourists have already begun to visit the Olympic village from Europe and all over the world and will have been hoping for the best exchange rate for euros before the games actually begin.

As we approach the event, there has been much speculation as to how the Olympics will affect the UK’s economy both long and short term, particularly whilst we are in the midst of a eurozone crisis. Will European visitors be deterred by potentially unfavorable euro exchange rates?

Either way our economy is set to enjoy one of the biggest tourism injections it will likely ever see again – billions of pounds will be pumped into our economy as tens of millions of visitors and participants flock to our country this summer.

The longer term impact will be how the amenities and facilities are utilized after the Games. There is talk of plans to develop 3,600 new apartments for the local community. This area ofLondonis currently quite run down and under developed, so this may well have a positive impact on inward investment and new business set up. Whether the 2012 Olympics will be enough to lift the economy long term is unknown but a short term boost has got to be worth something.

Best Exchange Rates UK are the best option for visitors wishing to get the best exchange rates leading up to the 2012 Olympics. Give one of our experts a call today to understand potential facts that may influence the strength of future rates against the pound, to make sure you get the best foreign exchange rates.