Strong pound a boost for travellers

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%VIRTUAL-SkimlinksPromo%Families booking an overseas getaway this Easter to popular destinations such as Majorca, Malta, Crete and Barbados will find the cost has remained about the same or even dropped compared with a year ago, new research suggests.

M&S Bank said the relatively strong performance of the pound has had a positive impact on the cost of a sunshine break, meaning the expense of a one-week holiday for people travelling from the UK has increased at below the rate of inflation in many places and has fallen in some over the last 12 months.
The research, which took food, accommodation and spending money into account, found that on average costs have edged up by just 0.1% over the last year at the destinations it looked at, amid favourable exchange rates.

The price of a week in Majorca has dropped by 0.4% over the last year to around £253 per person, while the cost of a trip to Malta has fallen by the same percentage amount to £303 per person, according to the findings.

A week in Cyprus would set someone back around £417, which is a 0.3% rise compared with 2013, while the cost of a trip to Tenerife has risen by 0.5% over the last year to around £429.

One week in Barbados costs four times the price of a holiday in Majorca, at around £1,047 per person according to the study, although this expense has only edged up by 0.4% over the last year, which is well below the Consumer Prices Index (CPI) rate of inflation at 1.7%.

The cost of a week-long break in Crete has risen by 0.6% annually to £499 per person, the research found.

The Dominican Republic has seen the biggest decrease in price since last year, with a 1.2% fall, as favourable exchange rates have made a week-long holiday to the island £46 cheaper than in Easter 2013, the report found. However, it still remains the fourth most expensive destination out of those looked at.

A holiday to Mauritius has seen the biggest percentage jump in price out of the places covered, having risen by 1.5%, with flights for a family of four costing almost £4,000, according to the survey.

Fraser Millar, head of travel money at M&S Bank, said: "The strong performance of the pound has had a significant impact on the average cost of a sunshine break this Easter, which is great news for UK holidaymakers planning to head abroad in April.

"It's important for holidaymakers to look at the total cost of the holiday, including local costs; selecting a destination with a favourable exchange rate can help you get more from your travel money this Easter, leading to substantial savings."

Here is the typical cost per person of a week-long trip to various destinations and the percentage increase or decrease compared with 2013, according to M&S Bank, which looked at actual prices online:

:: Majorca, £253, minus 0.4%

:: Malta, £303, minus 0.4%

:: Cyprus, £417, 0.3%

:: Tenerife, £429, 0.5%

:: Crete, £499, 0.6%

:: Madeira, £515, 0.1%

:: Dominican Republic, £918, minus 1.2%

:: Mauritius, £953, 1.5%

:: Barbados, £1,047, 0.4%

:: Hawaii, £1,262, 0.1%

The shrinking value of the pound
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Strong pound a boost for travellers

1973: 14p

2014: £2.87

1973: 11p

2014: £1.30

1973: 6p

2014: 46p

1973: 13p

2014: £1.42 

1973: 33p

2014: £2.78

1973: 28p

2014: £2.02 

1973: 11p

2014: 91p 

1973: 58p

2014: £4.84 

1973: 11p

2014: 93p 

1973: 28p 

2014: £2.67 

1973: 15p

2014: £1.19 

1973: 8p

2014: £1.41 

1973: £17,000

2014: £305,000 


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