FEXCO

Irish tourists have more than €110 million in foreign currency stashed in their homes

Survey by travel money specialists No.1 Currency shows 87% of Irish adults have one or more types of currency sitting at home

Monday, November 24th 2014 – Dublin, Ireland: Irish people who have travelled outside of the Eurozone over the last 12 months returned home with almost €100 each in foreign currency, which, according to a survey by travel money specialists No.1 Currency, means that there is more than €110 million in foreign currency lying idle in households around the country.

The majority (87%) of Irish adults surveyed admitted to having one or more types of foreign currency sitting at home, with almost half (45%) intending to hold on to it until their next travels, and only one in five admitting to changing it back to euro as soon as they arrived home.

The survey also showed that of those who travelled outside of the Eurozone, the UK is the most popular destination (44%) followed very closely by the US at 42%. Australia and Canada follow at 9% and 8% respectively, with a further 7% visiting Asia.

Speaking about today’s findings, Head of Retail for No.1 Currency in Ireland and the UK, Simon Phillips, said; “After every trip abroad, most of us end up with a few STG£10 notes or $US in the bottom of our bags or at the back of our wallets. However, with more and more people traveling outside of the Eurozone to the US, UK, Canada and Australia, all of this currency adds up to a whopping €110 million in people’s homes across the country.

“While many people prefer to hold on to their leftover currency to use on another trip, it can all add up and, if exchanged back to euro, could make the difference of an extra €100 towards the Christmas present list over the next couple of weeks.

“At No.1 Currency, we recently launched a new service called Click and Sell, an extension of our very successful Click and Collect service*, where people returning from holidays can simply log on to www.no1currency.ie, select the currency and amount you want to sell, and bring their foreign currency to a No.1 Currency store to exchange their currency for euro at fantastic rates and commission free.”

ENDS

* Click and Collect by No.1 Currency allows customers to simply order their foreign currency online and collect it in their nearest No.1 Currency store or participating Credit Union under the FEXCO Currency brand. There is no upfront payment required, 0% commission for online orders and you can lock in your exchange rate on the day you order the currency.

No.1 Currency is part of FEXCO, Ireland’s most successful multinational finance and business solutions provider, with operations in 28 countries worldwide.

About FEXCO
FEXCO is Ireland’s most successful multinational financial and business solutions provider, with operations in 28 countries worldwide. Founded and headquartered in Ireland in 1981, FEXCO employs more than 2,000 people across Europe, the Middle East, Asia, North America, Latin America and Australasia.

FEXCO serves some of the world’s biggest brands across multiple industries through a wide range of innovative products and services, including Dynamic Currency Conversion (DCC), Multi Currency Pricing (MCP), Mobile Payments, Commercial and Retail FX, Managed Business Solutions and Tax Free Retail Services.

For thirty three years, FEXCO has been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to integrity and innovation, the company has built an international network of partners and customers.

 

2014 FEXCO Asian Gaelic Games

The 2014 FEXCO Asian Gaelic Games took place on the 11th & 12th of October in Kuala Lumpur, Malaysia, and featured 48 teams from 15 clubs across 11 countries in Asia.

The 2014 FEXCO Asian Gaelic Games, now in its 19th year, saw more than 500 players from Ireland, in addition to various other nationalities, compete in over 180 games for Senior, Intermediate and Junior Cups in men’s and ladies’ football, hurling and camogie, as well as underage games.

The following videos cover the event from the opening ceremony through to the final day of the games.

Opening Ceremony: The opening ceremony of the FEXCO 2014 Asian Gaelic Games at the Hotel Istana, Kuala Lumpur, Malaysia.

http://www.youtube.com/watch?v=I-YlccWyeWo

 Day 1: Review of day one of the 2014 FEXCO Asian Games in Kuala Lumpur, Malaysia. Hear from players taking part in the tournament at the opening day of competition.

http://www.youtube.com/watch?v=-_l0MFzGJSY

Day 2: Review of the final day of the 2014 FEXCO Asian Games in Kuala Lumpur, Malaysia.

http://www.youtube.com/watch?v=RaG6KoWapWM

 

 

GAA and FEXCO bring the 19th Asian Gaelic Games to Kuala Lumpur

Irish multinational supporting Irish diaspora abroad

The Gaelic Athletic Association (GAA) and FEXCO, Ireland’s most successful multinational financial services provider, have once again joined forces to support the 2014 FEXCO Asian Gaelic Games, which will take place on October 11th and 12th in Kuala Lumpur.

Featuring 65 teams from 26 clubs across 18 countries in Asia, the FEXCO Asian Gaelic Games sees more than 800 Irish and Asian GAA players, including Donegal All Ireland footballer Ryan Bradley who plays for Qatar, come together to battle it out in over 180 games for Senior, Intermediate and Junior Cups in men’s and women’s football, hurling and camogie. The Games kick off at 8am on Saturday, October 11th, and run until 6pm on Sunday, October 12th.

Speaking about the 2014 FEXCO Asian Gaelic Games, Joe Trolan, Chairperson of the Asian County Board (ACB), said: “The FEXCO Asian Gaelic Games have grown from strength-to-strength over the last 19 years, and, with the continued support from FEXCO, the Games have evolved to include more than 800 participants from 18 countries in Asia. We are delighted to once again have FEXCO on board this year as we welcome two new clubs from Indonesia and Myanmar and are truly looking forward to an exciting weekend of Gaelic games.”

Managing Director of FEXCO’s Dynamic Currency Conversion division, Denis Cleary, said: “FEXCO is proud to sponsor the FEXCO Asian Gaelic Games again this year. This annual gathering of GAA players from right across Asia and the Middle East continues to grow rapidly each year, as more and more Irish expats, as well as many other nationalities, join this truly international community linked through the GAA sporting culture.  The AsianCounty Board has done tremendous work over the last number of years in bringing together our Irish diaspora community through our native sport which gives the Irish abroad a familiar sense of community in their home away from home.

“FEXCO, with operations in 28 countries worldwide including China, Japan, Singapore, Indonesia and across the Middle East, is proud to support the Asian County Board in what is sure to be another exciting weekend of football.”

GAA President Liam Ó Néill said “The Asian Gaelic Games is a true reflection of the work and commitment of the Asian County Board and the participating players.  I would like to extend best wishes to all those involved in the 2014 Asian Gaelic Games and to thank FEXCO for their continued support.  I look forward to attending the games this year and meeting the Irish diaspora during this great occasion in Kuala Lumpur.”

 Ends

No.1 Currency opens new foreign currency store in Stevenage

Thursday, August 7th 2014: No.1 Currency, a leading provider of travel money in the UK, has opened a new currency exchange store at 2b Westgate, Town Centre, in Stevenage, Hertfordshire, which is the tenth new No.1 Currency store opened so far in the UK this year. A further 10 stores will be opened by the end of 2014, bringing to a total of 43 own stores and nearly 200 employees.

Commenting on the announcement, No.1 Currency’s Head of Retail, Simon Phillips, said: ‘We are currently undergoing a major expansion of our high street network and this outlet in Stevenage is the tenth of 20 new stores which will be opened across the UK in 2014’.

“No.1 Currency offers the widest range of currencies with no commission charged, and, with Click & Collect, it couldn’t be easier for customers to order their currency online and collect it from any No.1 Currency outlet, or at any of the 160 affiliates located across the UK.

“By the end of the year, we will be operating from over 200 locations across the country. The growth and performance of No.1 Currency over the last two years has been very impressive and we are committed to building on this success and establishing ourselves as No.1 for convenience, price and service.”

ENDS

About No.1 Currency
No.1 Currency is a member of FEXCO, Ireland’s most successful multinational finance and business solutions provider, with operations in 28 countries worldwide. Headquartered in Edinburgh, No.1 Currency was founded in 1996 and is one of the UK’s fastest-growing independent foreign currency specialists.

No.1 Currency also provides safe and secure worldwide money transfers for individuals and corporate clients.  This is a bank-to-bank service which offers a range of products that covers all currency needs, from immediate spot price contracts to longer-term forward and time-option forward contracts.

For more information, please logon to www.no1currency.com.

Strong pound means Scottish holidaymakers will enjoy a bumper Summer

London, 29th July 2014 — Scots heading to their favourite overseas destinations this summer will see their holiday money stretch further thanks to a resurgent pound, according to research carried out by travel money specialist No.1 Currency.

Sterling has had a bumper 12 months and that’s great news for Scottish people heading off for their summer holidays. No.1 Currency looked at the most popular European and Worldwide summer destinations for Scots and across the board the pound is stronger than it was last year.

For example, the pound has strengthened 9% against the euro since last summer. That means £500 will get you €630 today compared to just €580 this time last year. That’s an extra €50 in your pocket if you’re heading off to top eurozone destinations for Scots such as Spain, Italy and Portugal for some sun, sea and sand.  

And Scottish families heading to the most popular resorts in Turkey over the next month will get even more bang for their buck, as the pound is 21% stronger against the Turkish Lira compared to 12 months ago.

But it’s not just Europe where the Scots will enjoy the benefits of a booming pound. Families heading further afield will enjoy some fantastic value, with sterling 11% stronger against the US dollar, 19% higher against the South African rand and 14% up on the Thai baht.

The following table shows some of the most popular destinations with Scottish holidaymakers and how much the pound has strengthened against the local currencies in the past 12 months:

Country Currency (A) % Increase in Pound vs Currency (A) compared to 12 months ago

Turkey

Lira

21%

South Africa

Rand

19%

Thailand

Baht

14%

Egypt

Egyptian Pound

13%

India

Rupee

13%

Barbados

Bajan Dollar

11%

USA

US Dollar

11%

Croatia

Kuna

11%

Brazil

Real

10%

Spain

Euro

9%

Portugal

Euro

9%

Italy

Euro

9%

Australia

Australian Dollar

8%

New Zealand

NZ Dollar

2%

 

  • No.1 Currency has opened a new currency exchange store on the ground floor of St Enoch Shopping Centre in Glasgow. It is the ninth new No.1 Currency store opened so far in the UK this year.

Simon Philips, head of retail, No.1 Currency, comments: “It’s not just in Glasgow that Scottish people are seeing gold. For those Scots not hanging around for the end of the Commonwealth Games, and heading off on holiday, this could be a golden summer thanks to a resurgent pound.

“If you’re already overseas, enjoying a cool beer by the pool, you’re going to see your pounds stretch that little bit further this Summer..

“If you’re about to head off on holiday, and you haven’t bought your holiday money yet, then you’ll enjoy some fantastic rates. But remember, you can enjoy even better rates if you order your currency online before you reach the airport.”

- ENDS -

 

FEXCO and First Data extend successful DCC partnership into online and land-based gambling sector

Wednesday, July 16th 2014: FEXCO, the leading independent global provider of Dynamic Currency Conversion and Multi Currency Pricing services, along with First Data, the global leader in payment technology and services solutions, has today announced the extension of its highly successful 12-year partnership into the online and high-street gambling sector, through First Data’s PayLucky™ Solutions suite.

First Data recently launched PayLucky Solutions to offer an innovative package of comprehensive payment services, all in one place and from one source, for legalized online and offline gambling and gaming.

FEXCO and First Data currently offer Dynamic Currency Conversion (DCC) and Multi Currency Pricing (MCP) services to the world’s leading acquirers and merchants in the airline, hotel, hospitality and retail sectors. Today’s announcement of a move into the legalized gambling sector extends this successful partnership into a market which produced Gross Gaming Revenue (GGR) of US$37 billion in 2012.

Managing Director of FEXCO’s DCC division, Denis Cleary, said of today’s announcement; “FEXCO and First Data have had a very successful partnership over the last 12 years, having led the way in bringing DCC and MCP services to some of the world’s leading hotels, airlines and retailers. It as a natural progression that we extend this partnership into the online and high-street gambling sector, as it is particularly suitable to the DCC service”.

“Legalized gambling in the U.S. – in particular the emerging online providers – attracts customers from all over the world. By expanding DCC into this sector, cardholders can rest assured that they know the exact value they are spending in their own currency every step of the way. We already have extensive experience in this industry through partnerships with leading casino operators and online gaming/gambling customers worldwide. We are delighted to bring this experience to support our partner First Data under its PayLucky brand as we explore this new opportunity in the U.S.”

“PayLucky represents the fusion of existing key partnership products to drive value for new and existing clients in the vertical,” said Jonathan O’Connor, general manager, Online Gambling and Alternative Markets, First Data. “With FEXCO we will look to drive the acceptance of DCC at every client touch point from land-based casino to tribal casinos to online operations. This will give clients the ability to provide easy payment options in domestic or home country currency.”

ENDS
About First Data
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive client revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction. More information about the company is available on FirstData.com as well as on Twitter, LinkedIn, Facebook and YouTube.

About FEXCO
FEXCO is Ireland’s most successful multinational financial and business solutions provider, with operations in 28 countries worldwide. Founded and headquartered in Ireland in 1981, FEXCO employs more than 2,000 people across Europe, the Middle East, Asia, North America, Latin America and Australasia.

FEXCO serves some of the world’s biggest brands across multiple industries through a wide range of innovative products and services, including Dynamic Currency Conversion, Commercial and Retail FX, Managed Business Solutions and Tax Free Retail Services.

For thirty three years, FEXCO has been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to integrity and innovation, the company has built an international network of partners and customers.

Ireland’s premier Anti Money Laundering solution developed by FEXCO

Ireland’s premier Anti Money Laundering solution developed by FEXCO

 Anti Money Laundering solution to assist financial institutions to comply with the Criminial Justice Act 

Wednesday, June 25th 2014: FEXCO has developed an Anti Money Laundering (AML) solution which enables financial organisations to meet compliance requirements of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. FEXCO’s AML solution offers a broad range of business solutions which will ensure that financial institutions are fully compliant with the legislation.

FEXCO’s AML solution, operated by the Managed Business Solutions and Outsourcing (MBSO) division from its contact centres in Kerry – which are ISO 9001:2008 certified, offers organisations with an AML requirement increased confidence when it comes to verifying identities, preventing fraud, and helping them stay compliant with comprehensive data-driven technology.

Commenting on the the AML solution, CEO of FEXCO’s MBSO division, Denis Creighton, said: ‘Financial institutions in Ireland are facing increased regulatory pressures to meet anti money laundering compliance requirements under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. The legislation requires each finanical institution in the country to hold up-to-date anti money laundering documentation for every client on their books. This can be a very time consuming undertaking for many companies. We recognised an opportunity for FEXCO’s MBSO team to develop and implement a solution which can be easily deployed to ensure that they adhere to compliance requirements’.

“FEXCO’s MBSO team manages the project for clients from start to finish – from data capture and cleansing, to all inbound and outbound contacts, as well as validating the AML documents and uploading of all completed data to the client’s systems.”

FEXCO’s MBSO division delivers a suite of full end-to-end solutions across a wide variety of business sectors.  Among the services offered by FEXCO MBSO are: multi-channel contact centre services, financial transaction management, end-to-end credit management solutions and innovative software and IT solutions. FEXCO handles over 100 million contacts every year and currently provides services across a range of sectors including a number of Government Departments, Local Authorities, Healthcare, Semi-States, Commercial, Retail, Hospitality, Energy, Corporate and Financial Services.

ENDS

 

Festivals in Central Europe offer best value for Irish music lovers this Summer

Festivals in Central Europe offer best value for Irish music lovers this Summer

  • Hungary’s eight-day Sziget festival in Budapest is the best value at €62.64 per day, or €497.30 for the whole event
  • Open’er Festival in Poland is cheapest overall at €260.50 for a weekend, or €65.10 per day
  • Most expensive festival per day is Tomorrowland in Belgium at €225.50 or €678.40 in total
  • Eight-day festival Roskilde, in Denmark, will drain €913.50 from festival-goers’ pockets

Friday, June 20th 2014 – Kerry, Ireland: Irish festival fans looking to make their euro go further are better off heading to Central Europe to see the headline acts this summer, as Budapest, Hungary and Gdynia in Poland offer best value for money, according to new research from FEXCO’s No.1 Currency.

Looking at 10 of the most popular European festivals, the research showed that once ticket cost, accommodation, food and drink, as well as the duration of festivals are taken into consideration, frugal revellers are better off heading to Slavic countries to make the most of their money this festival season, with Open’er Festival, in Poland, costing €65.10 per day and Exit in Serbia at €77.66 per day, two of the three cheapest music festivals in Europe.

The Sziget festival in Hungary – where Prodigy is headlining this summer – is the best value festival in Europe, with a daily cost of €62.64 or just under €501 for the whole eight days of the festival.

The most expensive festival when working out the cost on a per-day-rate is Tomorrowland in Belgium, at €225.50 per day. With the highest admission, accommodation and meal costs, the weekend could set avid music fans back a pricey €678.40, but with headline acts such as Benny Benassi and Carl Cox, the price tag is unlikely to put too many people off. 

Roskilde in Denmark proves to be the most lavish for festival-goers, exhausting the purse strings of €913.50. It’s 84% more expensive than Sziget, which runs for the same amount of time. With food and drink anticipated to cost €68.90 per day – the overall cost can rack up to nearly €125.30 per day. However, with the Rolling Stones headlining, it’s a not-to-be-missed event for many.

When it comes to festival food and refreshments, Glastonbury attendees will be forking out a whopping €89.40 per day for their daily meals and beverages. On the other hand, savvy spenders heading to Poland for the Open’er Festival, will spend as little as €26.30 a day on food and refreshments.

Simon Phillips, Head of Retail for No1. Currency, comments: “The festival season is upon us and thousands of music loving fans will be heading to Europe in the coming months to enjoy some of the world’s best music acts performing at some of the world’s best festivals.

“Gone are the days when Slane and Electric Picnic or heading to the UK for Glastonbury were the only events on the festival-goer’s calendar. Now there are festivals in most European countries and music junkies are only too happy to travel to see their favourite bands.

“But it’s not just the once-in-a-lifetime opportunity to see bands like the Rolling Stones performing live, that is attracting the Irish to Europe. It’s also the savings they can make on the cost of tickets, accommodation and food and drink.

* No.1 Currency has recently launched a new Click & Collect service. Customers can order their currency online and collect it from their nearest No.1 Currency outlet, or at 47 Credit Unions across the country. And to be in with a chance to win €500 this Summer from No.1 Currency, simply enter the draw in any one of the participating Credit Unions when changing your travel money. Two draws take place a month until the end of August.

-ENDS-

Notes to Editor:

The following table shows the breakdown of costs for all 10 festivals, as well as the total cost (not included travel costs) and breakdown per day:

Festival

Date

Admission

Accommodation per night

Cost per beer

Cost per meal

Total cost of trip

Daily cost

Sziget Festival, Budapest

11-18 August

€257

Included in ticket

€1.90

€3.76

€497.25

€62.64

Open’er Festival, Poland

2-5 July

€135.40

€5

€1.50

€3.76

€260.50

€65.10

Exit, Serbia

10-13 July

€125.40

€15.04

€1.85

€4.64

€312.75

€77.66

Rock am Ring, Germany

5-8 June

€215.60

Included in ticket

€3.10

€10

€351.70

€87.70

Unknown, Croatia

8-12 September

€132.90

€16.3

€2.5

€7.52

€485.36

€97.70

Main Square, France

3-6 July

€119.10

€6.27

€4.12

€9.40

€422.40

€105.20

Roskilde, Denmark

29 June -6 July

€264.5

€7.52

€5

€6.26

€913.25

€114

Glastonbury, UK

25-29 June

€269.5

Included in ticket

€5.64

€10

€701.42

€140.30

Sonar, Spain

12-14 June

€201.8

€15.04

€4.12

€8.14

€444.7

€147.80

Tomorrowland, Belgium

18-20 & 25-27 July

€245.7

€84

€2.94

€10.30

€678.20

€225.50

 

Methodology: Total cost and cost per day based on festival admission, cheapest accommodation cost, average cost of three meals per day and ten beers per day.  

 

About No.1 Currency

No.1 Currency is a leading provider of foreign exchange services in the Ireland and the UK. Part of the FEXCO group, No.1 Currency is currently expanding its operations across the Ireland and the UK and, by the end of 2014, will operate in 43 stores and employ nearly 200 people.

Not only does No.1 Currency offer the widest range of currencies available, at market leading rates and no commission charged on transactions, but any currency not used by customers can be bought back and there is no minimum requirement on orders placed.

MoS Cannon launches NFQ Level 6 Certificates developed by FEXCO and IT Tralee

Investment in employees key to FEXCO’s international expansion with more than 150 new jobs created since 2013

Tuesday, June 10th 2014 – Killorglin, Kerry: FEXCO, Ireland’s most successful multinational financial services and business solutions provider, has today, along with the Minister of State for Education and Skills, Ciaran Cannon TD, and the Head of Development of the Institute of Technology Tralee (ITT), Brid McElligott, launched two IT Tralee Certificates in Sales Through Service and Team Leadership at National Framework of Qualification (NFQ) Level 6, which were developed by FEXCO and IT Tralee for employees to further their education and skills.

Speaking at today’s announcement, Minister of State for Education and Skills , Ciaran Cannon TD, said: ‘Ireland is renowned for producing highly skilled workers and, in order for us to remain competitive, it is crucial that employers such as FEXCO continue to invest in their employees and provide them with opportunities to further enhance their skills. This collaboration with IT Tralee is an excellent example of how private sector organisations and third level institutions can work together to achieve accredited certifications which provide employees with recognised qualifications to advance their career’.

CEO of FEXCO’s Managed Business Solutions and Outsourcing division, Denis Creighton, said: ‘FEXCO’s workforce has grown over the last number of years as the organisation has expanded internationally. With 1,100 employees in Ireland and a further 1,000 located in 28 countries across the world, we understand how important it is to invest in the development of our employees so that they are equipped with the necessary skills to further their career and enable them to be the best at what they do’.

“Our partnership with IT Tralee is one such example of our commitment to supporting our employees. FEXCO’s MBSO division operates out of three contact centres in Ireland, and is the leading supplier of business solutions and outsourcing in Ireland, and the Certificates in Sales Through Service and Team Leadership offers our employees a unique opportunity to further their education. We recognise that our talented and skilled workforce has been the key to our success over the last 33 years, and organisations that we work with recognise that we have the experience, knowledge, expertise and skilled workforce to engage with their customers and deliver the optimum solution to help them grow their business.”

Dr. Oliver Murphy, President of IT Tralee, in welcoming this initiative said: ‘The Institute of Technology Tralee is proud to see the launch of these two programmes. Both were designed in close cooperation between ITT lecturers and FEXCO to create awards that are aligned to the national framework of qualifications so they enable participants to gain a recognisable third level qualification, whilst at the same time helping FEXCO achieve the enhanced knowledge and skills they are looking for. From the ITT perspective, this initiative is exactly the kind of employer collaboration and local impact that the institute seeks to engage in’.

FEXCO prides itself on supporting an entrepreneurial and innovative spirit among its employees. Talent management is a key to this success and FEXCO has an extensive programme in place to develop employees so that every opportunity is made available to them in order to support their career development. As part of this strategy, FEXCO has developed a comprehensive programme of HR initiatives, including performance management and development, a group-wide approach to talent assessment and development, as well as a structured graduate programme with students from leading universities across the country. Forty summer interns will also join the company this year to work in various divisions throughout the country. There is also an extensive educational assistance programme in place, as well as access to a 24/7 e-learning platform.

ENDS

About FEXCO
FEXCO is Ireland’s most successful multinational financial and business solutions provider, with operations in 28 countries worldwide. Founded and headquartered in Ireland in 1981, FEXCO employs more than 2,000 people across Europe, the Middle East, Asia, North America, Latin America and Australasia.

FEXCO serves some of the world’s biggest brands across multiple industries through a wide range of innovative products and services, including Dynamic Currency Conversion, Commercial and Retail FX, Managed Business Solutions and Tax Free Retail Services.

For thirty three years, FEXCO has been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to integrity and innovation, the company has built an international network of partners and customers.

 

Festivals in Central Europe offer best value for UK music lovers

 

  • Hungary’s eight-day Sziget festival in Budapest is the best value at £50 per day, or £397.04 for the whole event
  • Open’er Festival in Poland is cheapest overall at £208 for a weekend, or £52 per day
  • Most expensive festival per day is Tomorrowland in Belgium at £180 or £541.47 in total
  • Eight-day festival Roskilde, in Denmark, will drain £729.12 from festival-goers’ pockets

Wednesday, May 14th 2014 – British festival fans looking to make their Pound go further are better off heading to Central Europe to see the headline acts this summer, as Budapest, Hungary and Gdynia, Poland offer best value for money, according to new research from travel money specialist No.1 Currency.

Looking at 10 of the most popular European festivals, the research showed that once ticket cost, accommodation, food and drink, as well as the duration of festivals are taken into consideration, frugal revellers are better off heading to Slavic countries to make the most of their money this festival season, with Open’er Festival, in Poland, costing £52 per day and Exit in Serbia at £62 per day, two of the three cheapest music festivals in Europe.

The Sziget festival, in Hungary – where Prodigy are headlining this summer – is the best value festival in Europe, with a daily cost of £50 or just under £400 for the whole eight days of the festival.

The most expensive festival when working out the cost on a per-day-rate is Tomorrowland in Belgium, at £180 per day. With the highest admission, accommodation and meal costs, the weekend could set avid music fans back a pricey £541.47, but with headline acts such as Benny Benassi and Carl Cox, the price tag is unlikely to put too many people off.

Roskilde in Denmark proves to be the most lavish for festival-goers, exhausting the purse strings of £729.12. It’s 84% more expensive than Sziget, which runs for the same amount of time. With food and drink anticipated to cost £55 per day – the overall cost can rack up to nearly £100 per day. However, with the Rolling Stones headlining, it’s a not-to-be-missed event for many.

When it comes to festival food and refreshments, Glastonbury attendees will be forking out a whopping £69 per day for their daily meals and beverages, with a pint of beer costing an eye-watering £4.50 – the most expensive of any of the festivals in Europe. On the other hand, savvy spenders heading to Poland for the Open’er Festival, will spend as little as £21 a day on food and refreshments.

And there’s more good news for festival addicts heading to the continent this summer, with the Pound 3.2% stronger against the Euro compared to 12 months ago, and 1.2% better off compared to the start of the year.

The following table shows the breakdown of costs for all 10 festivals, as well as the total cost (not included travel costs) and breakdown per day:

Festival

Date

Admission

Accommodation per night

Cost per beer

Cost per meal

Total cost of trip

Daily cost

Sziget Festival, Budapest

11-18 August

£205

Included in ticket

£1.50

£3.00

£397.04

£50

Open’er Festival, Poland

2-5 July

£108

£4

£1.20

£3.00

£208

£52

Exit, Serbia

10-13 July

£100

£12

£1.48

£3.71

£249.72

£62

Rock am Ring, Germany

5-8 June

£172

Included in ticket

£2.47

£8.00

£280.80

£70

Unknown, Croatia

8-12 September

£106

£13

£2.00

£6.00

£387.50

£78

Main Square, France

3-6 July

£95

£5

£3.29

£7.50

£337.20

£84

Roskilde, Denmark

29 June -6 July

£211

£6

£4.00

£5.00

£729.12

£91

Glastonbury, UK

25-29 June

£215

Included in ticket

£4.50

£8.00

£560

£112

Sonar, Spain

12-14 June

£161

£12

£3.29

£6.50

£355.05

£118

Tomorrowland, Belgium

18-20 & 25-27 July

£196

£67

£2.35

£8.23

£541.47

£180

Simon Phillips, Head of Retail for No1. Currency, comments: “The festival season is upon us and thousands of music loving Brits will be heading over to mainland Europe in the coming months to enjoy some of the world’s best music acts performing at some of the world’s best festivals.

“Gone are the days when Glastonbury and Reading were the only events on the British festival-goer’s calendar. Now there are festivals in most European countries and music junkies are only too happy to travel to see their favourite bands.

“But it’s not just the once-in-a-lifetime opportunity to see bands like the Rolling Stones performing live, that is attracting Brits to Europe. It’s also the savings they can make on the cost of tickets, accommodation and food and drink. Our research shows that it can actually work out much better value to travel to a festival in mainland Europe than to stay at home.

“Not only does our cash go further in Central Europe, especially Gdynia and Budapest, where food and drink in particular is relatively cheap compared to the UK, but Brits heading to festivals in the Eurozone this summer will enjoy the added bonus of a strengthening Pound.

“For example, exchanging £300 for spending money this year you’ll get €368, compared to €354 last year – and as our research shows, an extra €18 in places like Poland and Budapest can pay for quite a few extra beverages.

“Also, it’s worth ordering and picking up your spending money in the UK before you arrive at the festival, because there are likely to be limited cash machines within the event, and that means you may end up spending hours queuing for money rather than enjoying the music.”

* No.1 Currency has recently launched a new Click & Collect service. Customers can order their currency online and collect it from their nearest No.1 Currency outlet, or at one of more than 160 affiliated agents across the UK.

-ENDS-

Notes To Editor

Methodology: Total cost and cost per day based on festival admission, cheapest accommodation cost, average cost of three meals per day and ten beers per day.