Tuesday, 16 October 2012 02:14
Greece is the most affordable destination for a half term holiday this October, according to the latest research released today.
M&S Bank studied the price of holidays in ten of the top family trip destinations and found that Corfu was the least costly choice at £662 per adult.
Alicante in Spain came a close second at £687 per adult, but third placed Turkey was a long way behind at a staggering £870 each.
The M&S figures placed Tenerife third in the table, costing £1,005 per adult, while Faro in Portugal stands to set holidaymakers back by £1,035 a person.
However, the survey also revealed that seven in ten of these holidays are less expensive this October half-term than they were a year ago, costing an average of £30 less per adult.
Researchers suggest this is largely due to favourable exchange rates as relatively low inflation (1.7%) and the increased strength of the pound against the euro (up 7.6 %) 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 However, it is still only the sixth cheapest location overall.
Despite being 6.7% more expensive this year and a decreasing exchange rate (down 1.2%), Turkey’s low local costs and flight prices mean it is still the third cheapest holiday destination overall.
Gill Roberts, head of travel money at M&S Bank, said the finding that 7 out of 10 foreign holiday destinations are cheaper this half-term compared to last would be welcome news for families.
She added: “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.”
While Florida has low accommodation costs, flight prices make it 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 (up 7.4 %).
For all the latest travel news and deals follow us on twitter @thriftyholidays