Together with the rest of Spain and continental Europe, Lanzarote successfully converted from the Spanish Peseta to the Euro (€) on 1st January 2002. €1 was equivalent to approximately 166 Pesetas.
The new currency has been good news for travellers, especially those in the Euro Zone. British holidaymakers also find it an easier currency to convert and use.
Lanzarote is part of Spain and the European Union but is outside for the purposes of taxation. This means no VAT (or IVA) is charged on goods in Lanzarote and you will find that alcohol, cigarettes and fuel are noticeably cheaper.
Remember that, unlike mainland Europe, there are limits on the duty-free goods you can return to UK.
It's easy to lose your head when using an unfamiliar currency. Stay savvy by remembering the following:
Although the locals rarely tip, it is still accepted courtesy to tip for good service. In restaurants, 10% is considered normal where service is not included. In cafés and bars, leave a little small change. For porters, chambermaids and tour guides, €1 - €2 is common. 10% is also normal in taxis.
Remember that tipping is optional; if service is poor, don't be afraid to make your feelings known by leaving nothing.
4 bedrooms, private pool
Playa Blanca, Lanzarote
from £600 per week
3 bedrooms, private pool
La Asomada, Lanzarote
from £845 per week