With only ten days to go until the start of the Olympic Games, foreign currency expert M&S Money has seen a 25% increase in sales of Chinese currency as British sports fans prepare to cheer on Team GB in Beijing. Over the next week Brits will be travelling to the Chinese capital ahead of 16 days of competition…
With only ten days to go until the start of the Olympic Games, foreign currency expert M&S Money has seen a 25% increase in sales of Chinese currency as British sports fans prepare to cheer on Team GB in Beijing. Over the next week Brits will be travelling to the Chinese capital ahead of 16 days of competition from August 8-24. The city also plays host to the Paralympic games between September 6-7.
M&S Money has seen a 25% year-on-year increase in sales of the Yuan (Renminbi) during the first seven months of 2008.
Travelers are reminded that there is a limit of 6000 Yuan allowed in or out of the country (approx £470). M&S Money advises taking to the limit in Yuan and the remainder in US Dollars, either travelers cheques or cash.
Fraser Millar, M&S Head of Travel Services, said: “China was a destination hotspot in 2007 following the launch of package holidays to Chinese coastal resorts and we saw a 10% increase in sales of the currency. As we expected, sales have increased again in the run-up to the Olympics as fans and athletes alike prepare to enjoy this unique event.”
Fraser added: “It’s always a good idea to buy before you fly and make the best of competitive exchange rates on the high street, and our research suggests that most people do indeed buy their travel money well in advance of the start of their holiday.
“Anyone heading to the Olympics who has yet to get their currency needn’t worry as they still have time to get their currency before the big getaway. However, travellers shouldn’t just rely on cash and we recommend using a mix of cash, credit card and debit card to cover their foreign spending. Also ensure you have the necessary visa to enter the country” .
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
