Richard Branson tries to fool people with his new currency

Richard Branson and Virgin Holidays have reacted to holidaymakers’ frustrations over exchange rates and poor value by launching a new currency today.

The ‘Branson’ will be accepted as legal tender at all Virgin Holidays destinations from April 2nd and can be bought through one of the company’s 100 retail outlets in the UK as well as in resorts upon arrival.

The ‘Branson’ launch follows research commissioned by Virgin Holidays and think tank Gray HL Division which found poor exchange rates polled highest in reasons for not travelling to a holiday hotspot, followed by bad weather, having to take vaccinations and deadly insects.

The story is here, and for the pointer I thank Angry Accountant.

Am I too rude to call this a lock-in effect, and perhaps price discrimination to boot?  How is this for a cynical sentence?

With two Bransons the equivalent of one British Pound, Virgin Holidays holidaymakers can forget about being stuck by fluctuating exchange rates – and enjoy more for their money.


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