Cheapest holiday destinations revealed, but Britons being hit by sterling’s fall
Written by Hitmix News on 23 July 2022
Bulgaria and Turkey are likely to be the cheapest nearby summer holiday destinations, according to Post Office Travel Money.
The company’s annual Family Holiday Report looked at 16 popular resorts and the cost of 12 common holiday expenses, including a family meal, drinks, sun cream, insect repellent and beach items ranging from buckets and spades to lilos, ice-creams, and pedalo rides.
The report, produced with travel company Tui, estimated a cost of £86 for those expenses at Sunny Beach in Bulgaria and Marmaris, Turkey.
However the prices at both resorts have increased since before the coronavirus pandemic began – 11% up in Marmaris and 8% up at Sunny Beach – but the collapse of the Turkish lira during that time will reduce the impact of costs in Marmaris.
The cheapest Eurozone resort was Portugal’s Algarve, which came in at £108 for the 12 items, Funchal in Madeira was £125, Costa Del Sol was £127, and Corfu in Greece was £133.
The most expensive was Ibiza, with a cost of roughly £186 on the barometer, followed by Puglia, Italy at around £185.
But prices in both these places have fallen since 2019 – by 4.9% and 5.2% respectively.
The biggest price increase was in Crete – a 37.7% rise meaning the 12 holiday expenses come to around £161.
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Prices have risen in three quarters of the 16 destinations covered by the report, mainly due to higher charges for meals and drinks, and sterling’s fall in value (the pound is trading at 1.17 euros, having been 1.21 euros in April).
The average rise across those which saw increases was 13.3%.
Nick Boden, head of Post Office Travel Money, said: “Sterling’s recent fall against European currencies and ongoing uncertainty about how it will perform in the coming weeks means that keeping a tight rein on resort spending will be crucial for families this summer to avoid busting the holiday budget.
“We found big price variations in the 16 destinations surveyed, particularly across 13 Eurozone resorts.
“This makes it doubly important for holidaymakers to do their homework and budget carefully to cover costs in the holiday resort they are visiting.
“We also found that prices can vary dramatically between resorts in the same country. In Greece, for example, barometer costs were 17% lower in Corfu than in Crete.”