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Bargain-hunting Brits head to New York in record numbers for Christmas shopping
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13 November 2007
As the dollar hit a 26-year-low last week, the value of the pound rose to 2.10 dollars from around 1.96 dollars in January this year.
Now Brits wanting to bag a bargain are heading across the pond to the Big Apple to take advantage of the exchange rate.
The UK is New York's number one international travel market with more than 1.1 million people visiting in 2006.
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The typical visitor spends an average of 235 dollars (£112) per day and total spending by these visitors reached 1.64 billion dollars (£785m) last year, according to the marketing and tourism organisation NYC & Company.
Christopher Heywood, its director of tourism PR, said he expected to see an increase in momentum caused by the favourable exchange rate and the rise in the number of UK flights to the city.
"The savvy traveller who's coming here for the shopping can really get a bargain," he said.
"They're coming with one suitcase and leaving with two or three."
Cheap flights, with some return trips as low as £250, are also making Christmas shopping in New York a realistic prospect for many Britons this year.
Mr Heywood said: "We have people coming over here even for weekend trips to shop for the famous brand names.
"People are coming for the department stores that everyone around the world knows, but also for the boutique stores out of the centre of Manhattan - anything from Madison Avenue and Fifth Avenue to Bleaker Street in the West Village and Soho."
Mr Heywood went on: "We have a very steady flow of UK visitors, with a little bit of a slow down in the summer months."
He said the best measure of the strength of the market was to look at hotel occupancy rates and in September the city saw 90-91%.
Asked about the relatively high cost to stay in Manhattan - three December nights for a couple in a three-star Midtown hotel costs around £1,000 - Mr Heywood said: "If you shop around you can really find some decent bargains.
"We'd encourage visitors to explore all five boroughs. There are definitely are bargains to be had."
But UK consumer tourists are also required to declare any goods over the amount of £145 to HM Customs officials on their return home.
Any goods above this limit will attract import duties at 20% on many items, including gifts and souvenirs, and VAT at 17.5% will also be added to items that are liable to VAT in the UK.
Research shows 1,169,000 people visited New York City from the UK in 2006 and UK visitors view the trip as a "city break", with 54% going for four to seven nights and 31% staying for two to three nights. The average age of the UK visitor is 40.
Cost of popular products in Britain (U.S price in brackets)1. iPhone (8GB) £269 (U.S price $399.00 (£192))
2. Opium perfume (YSL), 25 oz, £64 (U.S price $106.00 (£51)
3. Levi 501's, £60 (U.S price $46.00 (£22)
4. Barbie Doll, £22.95 (U.S price $14.95 (£7)
5. Transformers DVD, 12.99 (U.S price $22.75 (£11 )
6. Burberry check cashmere scarf, £145 (U.S price $265 (£127)
7. Nike Air Force One trainers, £150 (U.S price$109 (£53)
8. BMX Felt Ethic, £169 (U.S price $269 (£130)
9. ipod classic, £159 (U.S price $249 (£120)
10. Bollinger NV Brut Champagne, £25 (U.S price $55 (£27)
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