It seems the days of the staycation could be over as a new survey has revealed that taking a holiday in the UK could be more expensive than going abroad.
Research by M&S Money found that staying in Britain costs 25 per cent more than booking a holiday overseas.
The average cost of a week in London for Brits during the Jubilee and Olympics is £1,631, compared to £1,298 for a holiday abroad.
Online travel agent On The Beach backed the findings and said it had seen an enormous increase in bookings for holidays abroad this summer.
Marketing director at On The Beach, Alistair Daly, said: 'With Britain focusing on the Queen's Jubilee and the Olympics the UK will be saturated with tourists.
'Our data shows that Brits have chosen to avoid these crowds and take advantage of the reduction on family holidays and guarantee themselves a bit of sun.
'Staycations have taken a back seat in 2012.'
On The Beach stats showed that Spain was the most favoured destination for a summer getaway this year. Tenerife saw the biggest year-on-year boost in bookings by 60 per cent, followed by Majorca, which has increased by 90 per cent.
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