British holidaymakers will get the most value for their money in Spain this half term – even though sterling is not quite as strong against the euro as it was during the summer, a new report from Post Office Travel Money has revealed.
The Half Term Holiday Costs Barometer found Spain’s Costa del Sol to be easily the cheapest of 12 destinations surveyed and 38 per cent cheaper than Marmaris in Turkey, the highest-priced European resort in the survey of prices for everyday tourist essentials.
Although the Turkish lira has slumped in value against the strong pound by 29 per cent since last October, local prices have mushroomed by more than that amount. This leaves UK tourists having to pay out an extra 9.1 per cent on tourist staples compared with half-term last year.
The eight typical tourist items surveyed – a family evening meal with drinks, cup of coffee, bottle of beer, Coca-Cola, glass of wine, large bottle of mineral water, suncream and insect repellent – add up to £68.86 in Marmaris compared with just £42.49 in the Costa del Sol, a massive 62 per cent more.
The Spanish resort was among 10 of 12 destinations surveyed where the pound – currently worth 7.6 per cent more against the euro than a year ago – has made the barometer basket 3.5 per cent cheaper for families. This year’s basket of essentials is also over eight per cent cheaper than it was five years ago and this is thanks entirely to lower restaurant prices.
Prices are also down marginally in runner-up Portugal, where the tourist items have fallen 2.7 per cent in the Algarve to £46.57. Eating out in the Algarve is almost as cheap as in the Costa del Sol – £31.01 for a family meal compared with £30.63 in Spain.
There are bigger falls than that in Tenerife, where prices have dropped 7.1 per cent to £53.88, and Ayia Napa, Cyprus, down 7.6 per cent to £55.62. This means great value in these half-term holiday favourites. Sliema in Malta was more expensive at £65 for the tourist commodities, although prices have fallen by 5.6 per cent.
The biggest price falls were found in destinations further afield. On Kenya’s Mombasa coast, the barometer basket has plummeted 19 per cent to £56.30 because of a combination of lower resort charges and the weak Kenyan shilling. This made the mid-haul destination cheapest outside Europe.
Similarly, the falling value of the Mexican peso has made Cancun almost 14 per cent cheaper for half term holidaymakers than last October, although the barometer price tag of £80.45 is 43 per cent higher than in Mombasa. Prices have also fallen by over 12 per cent to £100.79 in Sharm el Sheikh but families are likely to find eating out an expensive luxury at £83.27.
Punta Cana in the Dominican Republic emerges as the highest-priced destination in the survey at £105.89. Families considering a half term trip to the island will be therefore be well advised to choose one of its well-priced all-inclusive hotels to avoid the expense of eating out and paying for drinks.
Andrew Brown of Post Office Travel Money, said: “Price is bound to be a big consideration for families so it is good to report a drop in the cost of tourist staples in 10 of the destinations that attract holidaymakers at this time of the year. Parents who are still looking for a bargain late deal will be well advised to do their holiday homework before booking, to find out where the family purse will stretch furthest. Spain is the bargain choice but Tenerife, Cyprus and Mombasa look great value with the promise of higher temperatures and more sun.”
