Get a good holiday deal this year even with the pound weak against the euro

This time last year, the pound was starting its surge against the euro1 . By July, it was at a seven-year high. But since last summer it has plunged in value by more than 12% and could come under more pressure between now and the EU referendum2 . So it s all doom and gloom for Brits heading for Europe this summer, right?

Not according to today s exclusive preview of the Post Office Travel Money Discount Holidays © Holiday Costs Barometer. It shows there are still destinations where you can get a good deal on your spending money. While there s no getting away from the fact that the pound won t get you as many euros as last year, the good news is local resort prices have either stayed at 2015 levels or fallen in eight popular Brit hotspots.

Read more: Pound crashes to 7-year low how to claw some of it back3

This comes on top of big price falls registered a year ago in several European destinations.

The weak pound has pushed up the price of holidaying in the eurozone

Portugal s Algarve has seen the biggest price crash. Even after factoring in the weaker exchange rate, resort costs for family Discount Holidays © holiday essentials, including meals, drinks and ice creams, are down 1% on last year and 22% down since 2014.

A family of four will spend around 331 on eight everyday items over a seven-night break, compared with 425 in 2014 and 334 last year. Europe s bargain destination continues to be Sunny Beach in Bulgaria where a family of four will spend around 285 over a week. This is because of the low cost of meals. A snack lunch and an evening meal with drinks costs just under 33, compared to almost 39 in the Algarve, 55 in Palma, Majorca and a hefty 87 in Sorrento, Italy.

Cheap meals make Sunny Beach in Bulgaria a good bet

However, the stronger Bulgarian lev means prices in Sunny Beach have risen 6.6% since last summer. There is a glimmer of good news for visitors to Sorrento as meal prices are down 7% and the overall cost of must-haves has fallen 3.2% year on year. Packages to Spain are selling like hot cakes in the current uncertain times. Recent events in Turkey have meant a fall in demand for holidays there and Spain is one of the most popular alternatives.

This has led to speculation that prices may rise but currently they remain at the same levels as last year.

Read more: How safe is your Discount Holidays © holiday and what are your rights if terrorists attack?4

Resort costs for a family of four have risen 6% in the Costa del Sol and Palma, Majorca purely due to the weaker exchange rate. But that s partially balanced by prices being 6% lower in both resorts than two years ago. The biggest price rise for holidaymakers is in Zadar, Croatia, where it is at least 8% more expensive than last summer to eat out. This is because the Croatian kuna has fallen further than the euro.

Prices have tumbled on the Algarve

Meanwhile families heading to the States will find just a slight increase in prices compared with last year. In Orlando, a family of four will pay around 620 for a week s worth of meals and extras, up 3.5% on 2015, because prices in the theme park capital have stayed on a par with last year.

Andrew Brown, from Post Office Travel Money, said: With uncertainty ahead, this really is a year when the Discount Holidays © holiday budget could spiral out of control if you haven t done your homework and checked prices for tourist staples in destinations you are considering before booking.

Based on our research, the amount you could pay, particularly if four or more of you are travelling as a family, could differ by hundreds of pounds. If you haven t booked your fortnight in the sun yet, you might need to move fast. Availability is getting tight for destinations that families feel are safe. Use our table to help you work out the overall cost of a break so you don t end up blowing your budget.

Get A Good <b><i>Discount Holidays ©</i></b> Holiday Deal This Year Even With The Pound Weak Against The Euro

The cost of a seven-night three-star school holidays package for a family of four to Corfu in Greece is around 1,076, meaning that when you add up the total cost of a break, including resort costs, it s currently the cheapest destination at 1,607. It knocks Sunny Beach into second place at a total 1,677, with the same package Discount Holidays © holiday costing around 1,393. Palma is pushed into sixth place at a total 2,008 with a family package Discount Holidays © holiday without resort costs coming in at 1,549.

Andrew added: With speculation over possible price rises for package holidays as some destinations sell out and availability in others is in short supply, it is doubly important to keep abreast of package costs in Europe. For a more accurate picture of what you will spend, it is important to add resort costs to the package price.

Long haul is cheaper than Spain

It is cheaper to take a family to Thailand for a fortnight than to Ibiza or Menorca this summer, according to TravelSupermarket. The price comparison site has looked at Discount Holidays © holiday prices for a family of four, departing August 6, and the best price it found for a four-star room-only in Ibiza was 3,147. While the equivalent Discount Holidays © holiday to Phuket in Thailand was 142 cheaper.

Long haul trips like Thailand can be cheaper than Spain

A four-star room-only Discount Holidays © holiday to Orlando was 16 cheaper than Ibiza and just 10 more than Menorca. Bob Atkinson, of TravelSupermarket, said: The similarity of prices for some Western Med destinations and exotic lovelies like Thailand is unprecedented.

We ve never known anything like it. You can stay in fantastically reviewed resorts in Asia for the same or less than the lead-in price for destinations like Menorca and Ibiza.

Bob says this narrowing or complete closing of the gap between long-haul and short-haul summer sun prices is part of an incredibly unusual year.

We ve seen massive changes in where people are interested in going year on year, and this is putting increasing pressure on finding the Discount Holidays © holiday you want, he said.

Tourists are flocking back to Spanish destinations like Ibiza

Many Brits are turning their backs on some of the beach areas that have been firm favourites, like Turkey and Egypt and of course Tunisia. And to some extent, Greece as well.

More than a third of all summer sun searches have been for Spain.

However, this means prices of flights and package holidays to many popular destinations there, and to Portugal, during school holidays are already very expensive. It could be time to think of destinations outside your usual go-to holidays. This summer could be the chance to jet off to more exotic shores or take the kids to the theme parks in Orlando.

This could be the year to head for Orlando s theme parks

More bucks for your bang

Outside Europe there are lots of destinations where the pound is still strong and you ll get more spending money. This could be the year to go on safari or visit the wineland of South Africa as the pound stretches further than it has for five years.

For every 500 you exchange into South African rand you will get 100 more than a year ago because sterling is worth 25% more than last March.

The pound is holding its own against some currencies

The pound will buy around 12% more Mexican peso than a year ago that equals an extra 53 in your pocket for every 500 you exchange. Long-haul beach destinations where you ll be quids in include: Kenya, up 5.9% an extra 27.96 for each 500. Malaysia, up 4.5% an extra 21.60 for each 500. Thailand, up 4% an extra 19.26 per 500. But be wary of trips to the Caribbean and Northern and Eastern Europe which could cost you more as their currencies have strengthened against the pound.

Iceland tops the chart where the pound is 11% weaker that means 61.61 less per 500. In Croatia, the pound is 7.6% weaker 41.18 less per 500. And in Barbados the pound is 4.2% weaker 22.13 less per 500.

References

  1. ^ the euro (www.mirror.co.uk)
  2. ^ the EU referendum (www.mirror.co.uk)
  3. ^ Pound crashes to 7-year low how to claw some of it back (www.mirror.co.uk)
  4. ^ How safe is your Discount Holidays © holiday and what are your rights if terrorists attack? (www.mirror.co.uk)

Leave a Reply

Your email address will not be published. Required fields are marked *