Currency Calculator

Use the currency calculator to calculate the rate of exchange.

GBP Flag

1 GBP = 1.13448 EUR

EUR Flag

1 EUR = 0.88134 GBP

Change Currencies Currency Providers

Brits look to invest in Algarve, explains tourism group

Axiafx compare table

Cash flush Brits may soon be looking to make foreign money transfers to snap up property in the Algarve, as the destination offers some of the best golfing and watersports sights.

According to Hugo Nascimento, sun and sea product manager at the Algarve Promotion Bureau, the sunny destination is popular market for holiday home hunters.

"A lot of people from Britain and Ireland are buying property overseas, mainly in Portugal," he explained. "So I think it's also a good deal to buy houses in Portugal right now."

According to the expert, the Algarve has seen an increase in the number of tourists for 2011, with the biggest contributor being sun-seeking Brits.

"2011 was a very good year for the Algarve," he remarked. "We had an increase mainly in British tourists, a big increase. It's been good up until now."

Tourists are lured in by the region's various amenities and attractions, such as the recently opened Autodromo Internacional do Algarve motor racing circuit.

"Besides the events that take place there like the International GT Open and Superbike World Championship, they also have a racing school," he commented.

"So if you'd like to drive a Porsche or Ferrari they have a racing school where they can teach you how to control the car. Also, you can do trekking in the fields, different sorts of watersports like water skiing, sailing and surfing."

Mr Nascimento explained that when the weather is good on the southern coast it is better on the western coasts, so visitors will see surfers touring the region for the best experience.

Leave a comment

What's the press saying about our company?

Top 5 Foreign Exchange Companies