9th October 2015
Half-term holiday costs have increased 11% since last October but savvy parents can still make savings.
Research by M&S Bank shows the cost of a family break has risen in seven out of 10 holiday destinations this October half-term, with an average overall price increase of 11%.
However, the strength of the pound against the euro means there are some good value European holidays – sterling has risen 9% against the euro since this time last year.
The most affordable half-term holiday destination is Malta, costing a family of four £1,872 – or £468 per person – a saving of £84 compared to last year. Menorca, which was last year’s most affordable destination, has been bumped down to second place, costing a family of four £1,936, or £484 per person – it is still good value despite a 7% price rise in the last year.
Crete is the third most affordable destination, with the biggest decrease in cost on last year. A family of four can holiday on the Greek island for £1,940, down £476 – or 20% – since last year.
Paul Stokes of M&S Bank said: ‘Families that are prepared to be flexible in where they go this October half-term can still find some savings, particularly in Europe where the pound remains strong against the euro. Taking exchange rates into account and shopping around for the best deal will help families get even more from their travel money.’
Top tips for half-term holidays:
* Be flexible – flights leaving a less sociable hours or during weekdays, rather than weekends, could be cheaper.
* Use a comparison site to compare the price of flights and accommodation.
* Plan your budget to work our how much the holiday will cost and how much travel money you need – don’t forget to factor in money for taxis, tipping and other extra.
* Buy tickets for activities in advance as they may be cheaper.
* Don’t rely on interest rates of buying travel money in-store – many providers have different rates online and some change their rate throughout the day.
* Don’t leave your holiday money until the last minute – airport bureaux often offer less competitive rates and may not have a wide variety of note denominations.