British tourists undeterred by U.K. FCO warnings of default

Around two million Brits visit Greece every year from May to September. Warnings from the U.K. Foreign and Commonwealth Office  warning Brits that they should have cash handy on their trip in case ATM’s are shut down due to a default have done little to discourage tourism. In fact, Brits hearing of protests, financial doom and other risks are doing what they are told not to and booking holidays in the hope that they could stretch more for their pound against a weak euro.

“British citizens traveling to Greece should take cash and exercise caution when traveling, as there have been warnings of Greek banks potentially refusing to issue euros if the country is drawing near to a default on their loan repayments,” warn finance experts, but Brits are not paying heed. In fact, asked about what’s happening in Greece, 37% are oblivious stating they don’t know and 29% said they don’t care, according to a survey by Caxton FX. 31% said that they thought now was an ideal time to visit as Greece is likely to be more affordable whereas 11% don’t think that the strength of the euro is affected by the Eurozone disputes. 13% said that they are taking advantage of the weak euro and booked holidays to other European countries this year.