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Heading abroad this half term could cost you 4% more than a year ago

Your Money
Written By:
Your Money
Posted:
Updated:
17/05/2013

Brits can expect to fork out an extra 4% – or £128 – for a family break this half term due to increasing local costs and a weaker pound.

According to M&S Bank, all of the most popular holiday destinations saw an increase in how much it costs a family of four to spend a week’s break there compared to 12 months ago.

The report highlighted that it is now more important than ever to plan a holiday well ahead of time to shelter from currency fluctuation, flight and accommodation costs and increasing passenger duty.

Egypt has seen the smallest increase in cost on last year (0.8%); favourable exchange rates mean a week-long break on the Nile or the Red Sea coast costs just £6 more per person than it did last year.

Paul Stokes, head of travel money at M&S Bank, said: “Egypt’s modest price rises show the importance of taking into consideration favourable exchange rates and local costs when booking a holiday.

“As the euro has strengthened against the pound, holidaymakers are starting to look further afield to make their travel money buy that bit extra; it can have a big impact on how much you have to spend when you get to your destination.”

Holland saw the highest percentage increase in cost, up by 6.1%, largely due to the highest non-flight costs, totaling £652 per person, and the highest inflation rate of all eurozone countries, at 2.9%.

But its close proximity to the UK means it is still the fifth cheapest holiday destination for the upcoming May half term, with a total cost of £781 per person.

France is the most affordable destination costing £547 per person, with Spain in second place at £632 and Italy in third costing £714.

However, it’s the decline in sterling against the euro which is really affecting the wallets of Brits heading abroad. In sterling terms, trips to the continent have risen faster than UK inflation and are 4.3% more expensive on average than last year.

The most expensive destination out of those researched is the US, with a week in Florida costing £1,218 per person, due mainly to the cost of long haul flights.

The 10 best value destinations 2013

   Destination     Total cost per person   Total cost (familyof four)  % change in total cost 2012-2013
France (Brittany)        £547         £2,187             4.3% 
Spain (Mallorca)        £632         £2,529             5.0% 
Italy (Sardinia)         £714         £2,858             4.3% 
Portugal (Algarve)         £743         £2,973             3.3% 
Holland (Amsterdam)        £781         £3,122             6.1% 
Egypt (Sharm El Sheik)          £848         £3,392             0.8% 
Greece (Crete)         £894         £3,748             3.1% 

Thailand (Phuket) 

       £937         £3,748             5.7%

UAE (Dubai)

       £938         £3,754             4.3% 

USA (Florida)    

     £1,218         £4,873             4.0%
 source: M&S bank