| For British tourists heading to the Big Apple to take | | | | With sterling at its strongest versus the dollar in 26 |
| advantage of a weak dollar and stock up on bargains, | | | | years, a rule of thumb for British shoppers is to halve |
| the choice is clear: saving money comes before | | | | the dollar price of goods to get their cost in pounds. |
| saving the planet. | | | | This emphasizes how dramatically cheaper US goods |
| With sterling hitting its highest levels against the dollar | | | | seem. Add in the cost of a flight and hotel at peak |
| since 1981, British media are cranking up headlines on | | | | season, however, and the cost spikes. |
| the number of people jetting to the United States to | | | | In New York, a shopper could pick up an Omega |
| pick up bargain designer clothes and electrical goods. | | | | men's watch, a pair of Timberland boots, a pair of |
| "The weak dollar is certainly helping a few shoppers | | | | Ray-Ban Wayfarer sunglasses and a bottle of Chanel |
| find their way to the US," George Stinnes, head of | | | | No. 5 perfume for about $3,750 (1,830 sterling) - about |
| investor relations at British Airways, said earlier this | | | | 20 percent less than they would cost at home. |
| month when the company reported passenger | | | | Add to that the typical cost of the flight and a |
| numbers on routes to the Americas had jumped 7.4 | | | | weekend in a Manhattan hotel - charging premium |
| percent in October from a year ago. | | | | rates in the run-up to Christmas - and the total is 2,850 |
| Those who have witnessed the sharp-elbowed frenzy | | | | pounds ($5,890), adding roughly 1,000 pounds ($2066. |
| of retailer Harrods' sales may not be surprised to learn | | | | "In the four days I'm here I'll spend about $900 and |
| that for some shoppers, the lure of cheap trendy Ugg | | | | there is no way I would spend that in four days in |
| boots and iPods outweighs the 2,000 kg or so of | | | | London," TV producer Catherine Mark said by |
| carbon dioxide the return flight pumps into the | | | | telephone from New York. "I'm not really that bothered |
| atmosphere. | | | | about the shopping, it's just exciting being here." |
| The transatlantic bargain-hunting contributes to Britain's | | | | On top of travel costs, returning Britons face a limit of |
| status as the eighth-largest emitter of carbon dioxide in | | | | 145 pounds ($298) in the value of goods imported, |
| the world, according to US Department of Energy | | | | after which they must pay 20 percent tax. Attempted |
| figures. | | | | evasion - or ignorance of the limit - is penalised by |
| "It's business travelers who should worry about carbon | | | | doubling the tax. |
| emissions," said Martin Smithers-Brown from London, | | | | Even if more shoppers are heading to the United |
| checking in for a flight to New York at Heathrow | | | | States, Britain's Revenue and Customs office (HMRC) |
| airport for a four-day shopping trip with his wife and | | | | says it has not seen an increase in goods brought |
| two friends. | | | | back, adding that it targets mainly large-scale multiple |
| He said he planned to pick up electrical goods such as | | | | purchases. |
| iPods and cameras, while his wife Krista had her eye | | | | "We thought we might get some increased activity, but |
| on brand-name clothes. | | | | in actual fact people seem to be quite well aware of |
| "You can't beat the dollar at the moment," she said. "It's | | | | their spending and ... we haven't seen an increase in |
| always cheaper over there. Two years ago I was | | | | goods coming in," said Mike Burrell, spokesman for |
| paying 20 pounds for a pair of Levis there. Now it's | | | | HMRC. |
| even cheaper." | | | | Some shoppers say they unpack US purchases |
| The shoppers are crossing the Atlantic as concerns at | | | | immediately, and work them to make them look 'used' |
| home mount about the scale of fallout from the US | | | | before flying home. |
| credit crunch and British retail is nervous: retail sales fell | | | | The bargain-hunt can go beyond consumer goods. |
| in October for the first time since January. | | | | Travelex, a London-based currency exchange |
| "It's really good value - you have to really control | | | | company, said dollar purchases in Britain had risen by |
| yourself because the pound is so strong against the | | | | 40 percent since the pound began to hit new highs - |
| dollar," said Londoner Rhoda Ogan, visiting New York | | | | partly on demand for shopping, but also on a gamble |
| to see a friend. | | | | that the greenback itself may, at current levels, be a |
| But if travel is included, Britons who ignore their carbon | | | | steal. |
| footprint as they leap aboard transatlantic flights to bag | | | | "We're ... seeing that customers are taking advantage |
| cheap luxuries may well end up spending more than | | | | of the current rate by actually stockpiling US dollars," |
| they would at home. | | | | Antony Hudson, its UK retail director, said. |
| False economy? | | | | "Those travelers actually visiting the States are |
| Many major currencies have boomed against a dollar | | | | changing up much more than they need so they have |
| weakened by investor fears about the health of the | | | | a surplus to draw on for a future trip, or others are |
| US economy - particularly after banks announced over | | | | actually changing up money now in anticipation of a |
| $50 billion of write-downs on assets linked to the | | | | holiday in the future. |
| troubled housing sector. | | | | |