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British holidaymakers to face crunch on spending abroad as pound slumps against the euro

by International Commercial Investment on September 30, 2013

Source: Daily Mail

British families will be forced to spend less on holiday this half-term as the sterling slumps against the euro, a survey has revealed.

Tourists in Tenerife and Ayia Napa, Cyprus, will have to keep a closer eye on their cash than holidaymakers in Spain’s Costa del Sol.

Of six popular destinations surveyed by Post Office Travel Money, Spain’s Costa del Sol offers the best value for money.

Combining the cost of a half-term family holiday package for two adults and two children with meals and drinks for one week, a Costa del Sol break costs £1,108.

The Portuguese Algarve (£1,137) was close behind, followed by Majorca (£1,210).

But budgets will be imperative for families flying to Marmaris in Turkey (£1,395), Ayia Napa in Cyprus (£1,619) and Tenerife (£2,186), where the recent change has shown a greater effect overall.

The Costa del Sol was cheapest overall with the lowest package prices and resort costs, but prices for meals and drinks were also low in the Algarve and Tenerife.

Eating out costs more in Marmaris, but lower package holiday prices make the top Turkish resort less expensive than Ayia Napa or Tenerife.

Families planning a half-term trip to Marmaris will also find their pounds stretch further as sterling currently buys 7.6% more Turkish lira than a year ago – the equivalent of more than £35 on a £500 exchange.

Elsewhere in Europe, while meals and drinks cost only 4% more in Tenerife than in the Algarve, higher half-term package prices push Tenerife into sixth place – 35% more expensive than Ayia Napa and almost twice as much as the Costa del Sol.

Andrew Brown, of Post Office Travel Money, said: ‘Our new research proves just how important it is for families to check all costs when it comes to choosing a last-minute half-term destination.

‘The combination of low resort costs and cheap packages make the Costa del Sol best value overall, but with holiday prices changing all the time, the Algarve and Majorca are still worthy contenders this half term.’

International Commercial InvestmentBritish holidaymakers to face crunch on spending abroad as pound slumps against the euro