Exchange Rate

C

CheekyChicken

New Member
I tell you something; 1€ = £0.89 8O8O

Murder. If it stays like this or even worse gets lower, there is no danger I'll be able to afford Ibiza next year :cry::cry:

The clubs are going to have to take their prices right down :roll::roll:
 
CheekyChicken said:
The clubs are going to have to take their prices right down :roll::roll:
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This assertion is based on the assumption that the pound/euro exchange rate is the most important factor in determining club pricing. Sorry to tell you, but it's not!

Their expenses are mostly in euros. They count their profits in euros. They pay their taxes in euros. Since the euro/euro exchange rate has been relatively stable at 1:1 since around 1999, I think it's safe to say that the euro prices will remain stable. :lol:

The ruble is only off about 3% versus the euro lately, while the dollar is substantially better than it was for the past couple of years. Since those are my 2 most important currencies, I'm not really complaining ;)
 
Yeah, gonna be a bit harder buying a Space ticket when you know it's costing you fifty English Pound Sterling rather than €55 of that funny money disco token stuff they use out there.
 
if the big Ibiza club cash cows get fuked next season in the recession, a lot of people won't shed too many tears - they've been ripping gullible punters off for years - the word schaudenfraude springs to mind..
 
CheekyChicken said:
I tell you something; 1€ = £0.89 8O8O

Murder. If it stays like this or even worse gets lower, there is no danger I'll be able to afford Ibiza next year :cry::cry:

The clubs are going to have to take their prices right down :roll::roll:
Click to expand...

Its mad :twisted: If it weren't for the fact that I am already booked for summer 09 I would have serious doubts about going if the £/€ situation does not improve.

I am sure back on 2001 it was something like €1.66 = £1. Over the years its just got worse and worse and of course prices in Ibiza continually rise (as you would expect) so every year feels more expensive and far less value for money.

Maybe its because I am scottish and as I get older I am getting tighter with my money :lol::oops:
 
The rapid drop in UK interest rates has been the main driver of this sharp fall, plus the now collapsed Financial Services industry has been the main output of the UK, and therefore the main demand driver for sterling.

Talk at the moment is that it will go lower, with a worse case scenario of £1 = €0.90 8O

That said, the European Central Bank is looking at an interest rate drop of its own, and not forgetting that by the time the Ibiza season kicks off, other UK industries will have felt the benefit of the exchange rates in that our exports will be cheaper.


So...... it could recover a little by next Summer........... maybe?
 
Jam Man said:
The rapid drop in UK interest rates has been the main driver of this sharp fall, plus the now collapsed Financial Services industry has been the main output of the UK, and therefore the main demand driver for sterling.

Talk at the moment is that it will go lower, with a worse case scenario of £1 = €0.90 8O

That said, the European Central Bank is looking at an interest rate drop of its own, and not forgetting that by the time the Ibiza season kicks off, other UK industries will have felt the benefit of the exchange rates in that our exports will be cheaper.


So...... it could recover a little by next Summer........... maybe?
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unlikely - we haven't even begun to see the worst of this yet
 
Exchange rates fluctuate. That's the nature of things. That's what they do.

You Brits have been fortunate enough to have a strong currency for quite some time. Right now, the pound is going through a period of weakness.

I remember a couple of threads on here where we discussed how cheap it was for you all to go shopping in the States. Now that the dollar is climbing, it might actually be affordable for Americans to visit Europe again. With the weak pound, I might start doing more of my clothes shopping on my regular visits to London instead of waiting for the annual trip to the US.

Now you see what it was like for me traveling to Spain with the euro at €1 to 38 rubles and €1 to $1.50 or to the UK with the pound at £1 to 50 rubles (it's around 41 now) and £1 to $2!

In any case, my main point is get over it. You've had a good run with the strong pound... more than a decade, I think. But the intelligent among you must see the foolishness in saying that Ibiza clubs and other establishments should tweak their prices because your pound is weaker.

As stated above, the Ibiza economy is denominated in euros. Period. The Spanish, Germans, French and Italians that come to visit won't notice the difference. It'll be cheaper for some other countries next year now that the euro has pulled back from its heights of valuation (though not as much as the pound) so maybe other countries will be better represented next year.
 
Morbyd's right. We've had a good run of it. Get over it.

I'm no longer even contemplating an off season camping trip to Ibiza anymore. Think I'm going to take what little money I do have, invest in some ganja, and head for the Scottish hills with a tent in the summer.
 
fatphilb said:
... Get over it.
I'm no longer even contemplating
an off season camping trip to Ibiza anymore.
Think I'm going to ... invest in some ganja,
and head for the Scottish hills with a tent in the summer.
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:lol: :lol:
 
Olly said:
... he's being deadly serious ...
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e67rt3.jpg


but yes - even if you don´t have an exchange-rate-problem:
most prices really suck very badly,
even in the off-season there are hardly any bargains to be found anymore.
http://www.spotlight-forums.com/showthread.php?t=57128
 
My plan was to hire a car and stay at a campsite by the beach. I wasn't looking for a super cheap holiday. Just more time to explore and less time spent getting messy. Plenty places open to go out as well. Really want to visit outwith the summer, I'm just not gonna have the funds. Guess I'll just make do with my rain soaked home land instead. Will probably go back to California again next October so can't really complain :lol:
 
hey ho, shame on the UK and European banks for ruining everyones summer eh!

you could just blame the yanks for the problems :lol:
 
Morbyd said:
I remember a couple of threads on here where we discussed how cheap it was for you all to go shopping in the States. Now that the dollar is climbing, it might actually be affordable for Americans to visit Europe again. With the weak pound, I might start doing more of my clothes shopping on my regular visits to London instead of waiting for the annual trip to the US.
Click to expand...

Heard an interesting hypothesis the other day that points to the need for US hedge funds to repatriate their investments, which is leading to an overly inflated dollar through increased demand. Once done, they suggest the USD is going to tank big time...

As for clubs, exchange rates aside, people will be feeling the pinch next year regardless if they're US, Euro or UK - so paying 8 euro for a bottle of water is going to be hard to justify..
 
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