Christmas shopping and drinks cheaper in London

18/12/2008

As the pound plunges, Europeans are coming to London's West End to buy their Christmas presents and enjoying a good party while they are here.

It was widely reported earlier this week than one pound was buying less than one euro at some exchanges. This compares with 1.5 Euros to the pound less than a year ago, in January 2007.

The seemingly impossible appears to be happening: London is gaining a reputation in Europe as a bargain shopping destination. The falling pound is not the only attractive factor for European Christmas shoppers: there's also the fact that many major retailers are offering substantial pre-Christmas discounts.

A French restaurant manager living in London told The Guardian: "It's terrible when I go home with pounds. But my French family is all coming here to shop, for clothes, Christmas presents, everything."

Many standard festive items are much cheaper in London than in Paris. A typical black M&S Christmas party dress costs £55 [Euros 61.3] compared with two similar dresses at Euros 89.95 and Euros 145 in Parisian department store BHV. Entry into London dance clubs and bars is also cheaper here than other Western European capital cities, and so are the drinks inside.