Travel firms slash holiday prices to battle sales slump

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With the cost of living soaring, a summer holiday abroad seems like an impossibility for many but there is some good news for those still dreaming of foreign climes.

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Travel firms, accustomed to hiking prices to take advantage of the school holidays, have been forced to slash the cost of package holidays thanks to a sales slump.

Surprisingly good deals on breaks to Greece, Spain and Turkey are available as travel agencies bid to lure cash-strapped Brits abroad. In some cases, prices have been cut by up to 50 per cent.

Recent research by holiday website Travelzoo found that more than two-thirds of Brits have not yet booked a summer holiday - the recent glut of bank holidays and unusually warm weather are just two of the reasons British families have put off booking their annual break.

Joel Brandon-Bravo, from Travelzoo, told the Daily Express: "We've been seeing some excellent deals for sunshine destinations as tour operators attempt to drive up summer bookings. People are holding off booking their foreign holiday.

"They are cautious about the economy and also haven't forgotten about the disruption caused by last year's volcanic ash cloud. We've also had additional disruption this year because of the turmoil across North Africa."

Of course, plenty will still find their summer holiday abroad is beyond reach but the promise of a bargain may offer some hope of sun, sea and sand.

What do you think? Will you be holidaying abroad this year or opting for a staycation? Leave a comment in the box below...