Summer holidays down as much as £750 on last year as M&S Bank reveals 2019's best value destinations
Six out of ten holiday locations researched are cheaper than last year, with the price of a holiday down £76 on average
Sunny Beach in Bulgaria is the cheapest holiday spot for the fourth year running
The Algarve in Portugal offers the biggest savings, costing £756 less than last year
M&S Bank research reveals that the outlook is bright for those heading away this summer, with the cost of a family holiday dropping by an average of £76, or three per cent. M&S Bank’s best value holiday destinations research shows that six out of ten holiday hotspots have gone down in price over the last 12 months.
Sunny Beach in Bulgaria remains the cheapest destination for families, which is at the top of the table for the fourth year running; a week-long holiday for a family of four costs just £2,596, or £649 per person this summer.
The Algarve in Portugal offers the biggest overall saving this year, costing £2,980 for a family of four, or £745 per person, costing over 20 per cent less than 2018, offering holidaymakers a significant saving. Antalya, Turkey completes the top three most affordable destinations, coming in at £3,072 for a family of four, or £768 per person.
The Canadian city of Toronto has seen the biggest year-on-year price increase, coming in at 21 per cent more (£872) than in 2018; a holiday here would set families back £5,076, or £1,269 per person. While the popular family resort of Orlando, Florida would come in slightly cheaper, a family holiday here would cost £4,792, or £1,198 per person, meaning holidaymakers would be paying 19 per cent more than last year.
The increases in price for transatlantic destinations are largely due to rising flight costs. At £2,759 and £2,874 respectively, flights to these destinations would cost Brits more than the total cost of a family holiday to Sunny Beach.
Dubai in the United Arab Emirates is the third most expensive destination at £3,576, despite being the fourth-cheapest option in 2018.
Paul Stokes, head of products at M&S Bank said: “It’s great to see that the majority of holiday destinations we looked at were in fact cheaper than this time last year, meaning that with a little research, holidaymakers could make their money go much further. To make the most of their budget, we would also encourage holidaymakers to compare local costs before they go away.”
Follow Paul’s travel money top tips:
Try to be flexible with flight times – an indirect, night or weekday flight could all prove cheaper
Shop around and check comparison sites to compare the price of flights and accommodation before booking
Always set a budget and remember to factor in travel money for snacks, excursions, taxis, tips and other costs, even if you are travelling half-board or all-inclusive
Research to find out if buying tickets in advance and online, such as attraction passes, is any cheaper than waiting until you arrive
Don’t leave your holiday money until the last minute; airport bureaux often offer less competitive rates and may not have a wide variety of note denominations
Always take both travel money and a credit/debit card to ensure you have multiple methods of payment.