Brits spending abroad on the rise

The amount of money spent by Britons abroad has reached a record level, according to a new report.

According to Marks & Spencer Money, Brits spent nearly £18 billion in euros in 2007 – the highest amount since the notes and coins were introduced in 2002.

The firm believes that the amount spent this year will increase further, especially as Easter will provide people with a chance to get away earlier than most years.

Fraser Miller, travel money manager with the firm, said that the euro is a "favourite form of holiday cash".

"With the recent wintry weather at home, and an early start on the spring/summer season, 2008 could be another record year for the euro," he stated.

Those travelling abroad this Easter may want to consider taking out adequate travel insurance.

Meanwhile, the AA recently urged people planning to drive abroad to ensure that their car insurance policy offered the correct cover.

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