Pounded by the Pound Sterling
I’ve seen two items in one day indicating that my recent warnings about high-cost London and Britain are still accurate.
The UK’s Guardian says that “The prospect of a further UK interest rate rise this week and continued problems in the United States housing market combined yesterday to push the pound to its highest level against the dollar in more than a quarter of a century.” Read more here in Guardian’s business section.
Joe Brancatelli, a super-experienced business traveler who writes the Seat 2B column for the new Conde Nast Portfolio magazine, says, “Later, London” and laments that although he loves the town personally, having to pay DOUBLE New York prices is causing him to lose considerable enthusiasm.
Can you imagine the costs for travel with kids, the ones who don’t have business expense accounts?