Half-term holiday costs rise as pound slumps against euro

Families escaping Britain for a sunshine holiday in Europe this autumn can expect to pay more for their half-term break as the pound slumps against the euro, new research has revealed.

A survey by Post Office Travel Money has found a sterling slump of 5.2 per cent against the euro, meaning tourists get around £27 less euros than a year ago if changing £500.

Further research revealed that Spain's Costa del Sol is the best destination for keeping costs down, where both resort costs and package prices are low.

By combining the cost of a half-term family holiday package (two adults and two children) with meals and drinks for one week, the Costa del Sol was the cheapest of six popular European half term destinations at a cost of £1,108.

The Algarve was close behind with £1,137, just £29 more expensive. The other four destinations surveyed – Majorca, Marmaris, Ayia Napa and Tenerife – cost between £1,210 and £2,186 for a family of four.

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 (£1,395) than Ayia Napa (£1,619) or Tenerife (£2,186).

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

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."

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