Benefits And Disadvantages Of Investing Savings Into An Overseas Currency

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Whether you want to study a fresh ability, increase national alertness or bargain yourself some thinking time before making the move into work or further study, a gap year could be the answer. However, you must always take into consideration the currency and exchange rates amid pastures. Millions of alumni all throughout the planet are intriguing gap years, itinerant to objectives such as the United Kingdom, America and Europe for months on end. A gap year, a year often taken between high school and university, has risen in popularity by 20% since 2006 (Graph 1). Graph 1: Gap Year Interest Over Time Taking a break from studies and electing a Gap Year is a great idea; many believe that those who step off the academic “treadmill” after high…show more content…
The chosen country to analyze throughout this article is the beautiful, Mediterranean land of Greece. Cost of living has dropped significantly over past years, making it a perfect location for a student to reside. The Cost of living in the Gold Coast (Australia) is 67% more expensive than in Athens (Greece) (Graph 2). For example, you would need pounds $5, 232, which calculated to $7,366, where as on the GC, in the Gold Coast to preserve the identical ordinary of living that you can have with pounds $3,125 in Athens. Graph 2: Athens & Gold Coast Cost of Living The foreign conversation market, like maximum markets, is ambitious by the supply and demand, constantly called the S&D model factor. In 2014, the total value of Greek distributes equalled 27,556 million euro, which justifications for approcixatley 15.1% of the Authentic Greece’s Gross Domestic Product, also known as GDP. Despite the fact that the economic crisis in Greece has continued this year, exports remain at the same levels as the previous year. Exports to the European Unuion (EU) extended to a relatively comfortable 46% during the financial year ened of 2014, boldly highlighting the extreme importance of Greek foreign trade to the EU. The main export partners are Turkey (12%) and the beautiful land of
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