Amex travellers derailed by euro launch

An American Express survey reveals that with less than two months to go until the introduction of the euro, three quarters of European business travellers say they haven’t been sufficiently briefed by their companies about its implications. The survey, conducted among European business travellers and purchasing managers, found that in the UK, four out of five business travellers have not had any discussions about the euro.

Despite this, 85 percent of frequent business travellers are in favour of the euro, with 58 percent believing that it will make travelling easier.

With confusion still reigning over the UK’s entry into the system it is perhaps not surprising that the UK’s frequent travellers are the most nervous in Europe about the euro. 69 percent of UK respondents are worried that they have not anticipated the majority of problems the euro will pose. Despite this, 45 percent of UK companies are anticipating dealing in euros by the year 2002. This compares to 77 percent of Netherlands-based companies which will begin dealing in the currency in January.

Of those questioned in the survey, 82 per cent believe that the euro will make it easier to compare prices. Many purchasing managers say they will be prepared to shop around in different countries to get the best deal available for products once the euro comes into force. However, around half believe that the introduction of another currency will lead to an increase in workload. This is tempered, however, with the belief that the price of business travel will decrease with the euro.

Related reading

HMRC banknotes