Thought I'd let a friend of mine who flies out on Saturday know where is best as he is well known to be rather careful when spending

there has been quite a bit in the Maltese press this week about the impact on tourism given both how important tourism is to Malta (35% of GDP I saw recently), and how dependent on the UK market Malta is (about 30% of tourist arrivals)

Malta looking a bit more affordable today - this week £:Euro has gone from 1.245 to 1.272 (interbank rate) - the Euro has fallen 2.3% against the dollar this week, £ is flat v $, so £:Euro is up 2.2%

its only a bit,but moving in the right direction - 1.40 here we come !

British tourists have been on the decline foir afew years anyway. However, there has been a huge increase in tourists from the German speaking countries, Netherlands and Scandanavia. Regarding property, much of good to premium property is mostly bought by no Brits anyway. In my complex there are alot of Russian residents.

I don't think the strong Euro will affect the Maltese tourism market that much since most tourists come from the Eurozone anyway or are affluent tourists from Easten Europe.

For example, I spentthe last 5 years working in Germany, getting paid in Euros. Hasn't affected my decision on coming to Malta and is still very good value compared to other Eurozone destinations.

am going to malta in a couple of weeks,can someone tell me the current exchange rate in bugibba.
have been changing money in same place for years(agius car hire) normally get a good rate.
best i can find today in london is 1.24.

interbank rate is 1.262 as I type, so 1.24 is a good tourist rate right now

Have just returned from Bugibba and Mary's on Tourist Street was the only place that I could find where the rate was 1.24

How very silly of me, I have only just realised that the decline in the Pound value against the Euro is part of the grand scheme to make us change over the the Euro.

Consider this, last September we went to Corfu and the exchange rate was £1 = €1.43, today it's down to €1.26 and falling. How crafty of our government and the other Eurofiles, soon, so very soon it will be £1 = €1 and then to save us slipping lower we will all cry out to change the dear old Pound to the Euro, stealth through the backdoor. Oh they are crafty these powers that steer us all.

As we are off to Malta (booked already, Cheveron) 4 weeks next January 2009, perhaps I should buy my Euros today while they are still €1.26, what do the experts and fellow Maltafiles thing?

Well done David, I said this weeks ago and caused a stir at work when they suddenly realised that I was probably correct

Oh yes I am sure this is what will happen, our prices have risen considerably and will continue to do so for some time. We will then have been realigned and it will seem as if it is in our interest to join the Euro and stop the pound value dropping further.

If they voting public won't vote in favour of joining the Euro zone, the government will make it look as thought it is best for us to get rid of the failing Sterling and we will be only to happy to quickly drop it.

Joe public 0 Government 1, Job Done & hello Euro !

Or maybe we are just being cynical

No K-G,

Not cynical at all, I am 100% sure it's a calculated ploy by the United States of Europe brigade, and wow what will their jobs be in the new arrangement, Obergruppenfuhrer? and the depth of the gravey?

Hi David and Graham, I hope both you chaps are keeping well, this is an interesting topic which will always nurture strong opinion on both sides,on a personal note I am extremely proud to be European, our continent is the finest and most diverse on the planet, when you think what us Europeans have actually given to the world it's amazing, modern medicine, telecommunications, literature, art, science, and engineering to name but a few, so on a personal note I will welcome the Euro as our own currency, it has to make sense when you consider travel, annually we travel to Malta, Germany, Belgium, Ireland, and sometimes Italy, all those countries have the Euro and are doing quite nicely on it, yes even Italy !! no more Italian Lira thank god, so when we come home we have Euros left over in our pockets that we cannot instantly spend and exchange rates from foreign banks to contend with on our bank statements, one currency would mean an end to a lot of messing about and an increase on easibility whilst travelling throughout our wonderfull continent, Viva Europa !!.

Regards
Sliema2

Hi S2,

Don't doubt all the history and advantages although I too travel a lot I have never had the slightest problem exchange GBP into whatever local Pongos they use.

My main point is, as stated, letting the pond slip until £1 = €1, just to get us to change and I do truly think that Empires (and salaries) are being created. But the history and culture couldn't agree more with you.

It's just that, well it seems that where Napoleon and Hitler failed ........................................................?

Hi Sliema2, nice to see your post. I agree with you on the fact that Europe is the greatest continent. For all those that want to hang on to the sterling I have to say that if we had joined the Euro a few years back then maybe we would all be better off!!!
At the end of the day we all get charged for changing sterling and make someone else very rich by doing so. Ireland has a very strong economy which has got stronger since they joined the Euro, they do not have any manufacturing exports to speak of. i really can't understand this 'British pound' mentality

exchange rate up to 1.30 (interbank rate) - 1.40 here we come...

I doubt we'll see 1.40. Dead cat bounce anyone?? The UK economy is in a far worse state that the rest of the continent due to the volume of credit and the crazy "I must have a property" attitude in the UK.

Just got my eruo 1.24 M&S today.

Was in Southern France earlier this week and I was getting 1.19 Euros for my £1. Worse still I went into a supermarket and purchased 3 bananas and three small bottles of Fanta. This cost me over 7 Euros!!

The cost of living seemed so expensive there and I'm just hoping that Malta doesn't follow suite. Mark just out of curiosity could you please let me know how much would my purchases have come to had I bought them from a Ghawdex supermarket?

Trev

3 bananas - something like €1.50-2
3 fantas - 1/2 litre bottles about 75c each

so about €4 in total

Hi Trev, the other week we got our Euros for 126.5 for Malta in November and Belgium in December, feel as though we got a pretty good deal on that compared to the current exchange rate for Euros in the uk.

Regards
Sliema2

Hi Mark & Sliema2,

Nice to hear from you guys and thanks for the info.

All I can say is that after my experience in France, I shalln't be moaning about costs (as if!) next time in Malta!!

Trev