LONDON, England – Brits’ shockingly poor knowledge of which countries use the euro, even after the EU referendum, shows how little they know of their European neighbors.
A study commissioned by APH asked 1,000 people which countries they think used the currency, which was first introduced in 2002.
Just 26% correctly picked the popular holiday destination of Malta, despite the fact that the euro has been used there since 2008. The British cash confusion extends to Cyprus, with 68% incorrectly believing it doesn’t use the euro, and Portugal, with 47% of us thinking it has its own currency.
Other tourist hotspots that caught people out include microstates, such as the Vatican City. Despite being economically dependent on Italy, only one in ten people (10%) said they thought the microstate uses the euro. Similar assumptions were made of San Marino (10%) and Monaco (23%).
The biggest misconception, however, was for countries in Eastern Europe. Just over one in ten people (13%) correctly stated that Slovakia uses the euro, closely followed by Slovenia and Lithuania (14%).
The consequences of this lack of knowledge has led 23% of Brits to actually take the wrong currency on holiday, with almost a third of men making the mistake (29%), as opposed to just 18% of women.
Top 5 Eurozone Countries People Think Use A Non-Euro Currency
1. Slovakia (87%)
2. Slovenia (86%)
3. Lithuania (86%)
4. Latvia (85%)
5. Estonia (84%)
Non-Euro Countries People Most Commonly Think Use The Euro Currency
1. Denmark (32%)
2. Poland (31%)
3. Hungary (22%)
4. Sweden (22%)
5. Czech Rep. (22%)
Beverley Barden, Head of Marketing at APH, said: “This survey highlights the understandable confusion around the euro and which countries use it. Before you travel to anywhere in Europe, our simple advice would be to check our euro guide to make sure you have the correct currency.”