Where are you going on holiday this half term?
Largely due to favourable exchange rates, european holidays are the most affordable with pound up against the euro.
The research, which studied the price of holidays in ten of the top family holiday destinations this October half-term, revealed that Greece is the most affordable destination, costing £662 per adult, an average saving of £59 per person on last year,.
Relatively low inflation and the increased strength of the pound against the means the five most affordable holiday destinations are all in Europe. With some of the shortest travel times, European breaks also mean families have more time to enjoy their holiday.
Those with young families will be pleased to hear that a holiday to France, including a day pass to Disneyland Paris, has seen the second largest price decrease this half-term with costs down by £49 per adult or 4.5 per cent compared to 2011. However, it is still only the sixth cheapest location overall.
To maximise your holiday budget, be sure to take into consideration factors such as local costs and exchange rates as well as getting the best deals on flights and accommodation
Despite being 6.7 per cent more expensive this year, having seen the highest rise in inflation and a decreasing exchange rate, Turkey’s low local costs and flight prices mean it is still the third cheapest holiday destination overall.
While Florida has low accommodation costs and a slightly more favourable exchange rate, factor in flight costs and this is one of the most expensive holidays you can take this half term (£1,734.61 per adult). Florida is beaten only by Mauritius (£2,204.45 per adult), where both local costs and flight prices are high, despite the favourable exchange rate.
Gill Roberts, Head of Travel Money at M&S Bank, said: “Many families will be pleased to see that 7 in 10 foreign holidays are cheaper this half-term compared to last year. With value for money increasingly important, the strength of the pound against other currencies and relatively low inflation rates may well enable more families to book a getaway in the sun this October.
“To maximise your holiday budget, be sure to take into consideration factors such as local costs and exchange rates as well as getting the best deals on flights and accommodation. A favourable exchange rate can make many destinations more affordable and could have a significant impact on how much money you can spend while you’re away.”
The five most affordable holiday destinations in October 2012:
1. Corfu, Greece (£662 per adult)
2. Alicante, Spain (£687 per adult)
3. Bodrum, Turkey (£870 per adult)
4. Tenerife, Canary Islands (£1,005 per adult)
5. Faro, Portugal (£1,035 per adult)
Where are you going on holiday this half term? Tell us in the comments below or tweet us @FemaleFirst_UK
FemaleFirst