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Eastern Europe To Benefit From Weak Pound

The tourist trade in eastern Europe could be set to benefit from the weakening pound, an expert has suggested.

According to Helen Warburton of the Post Office, many consumers in the UK are looking outside of the eurozone because the currency is now much stronger than the sterling.

In fact, the pound has now fallen to a record low against the euro, which means people face much higher costs if they visit countries such as Italy, Spain or France.

Ms Warburton told the Daily Mail that there have been "significant increases" in the cost of popular purchases such as food and drink.

Therefore, holidaymakers are opting to visit destinations with more favourable exchange rates, such as Bulgaria.

Speaking to the newspaper, Ms Warburton said: "People are looking for destinations where their holiday money will go further."

According to figures from Euromonitor, tourism in Bulgaria generated more than Ј1.3 billion for the country's economy last year.