Package holiday price rise: Getaways to Greece, Spain & Turkey among breaks seeing big increases - how to save
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Holidaymakers from the UK who have been saving up for trips to popular Mediterranean destinations like Majorca and Crete could be in for an unpleasant surprise. New data has revealed the cost of all-inclusive package holidays to these popular destinations is soaring, forcing travellers to fork out more money than they have budgeted for.
According to the BBC, figures from TravelSupermarket show the average price of a week with full food and board in Majorca in Spain is up 21% while prices for Tenerife have risen more than 22%. Meanwhile, holidaying in Greece is now 25% more expensive than last year.
Overall the most popular destinations such as Spain, Turkey, Greece, Portugal and Cyprus have gone up by nearly 12%. Prices for countries beyond the Mediterranean have also risen, according to the figures compiled by the price comparison website for the BBC.
TravelSupermarket determined the average price based on the results of holiday searches to the specified destinations. While this is a general trend, exact pricing will vary depending on location and booking time.
According to the report, the average of the top five most popular UK holiday locations has increased by 11.9% since last year, but there are big differences depending on the country. The average package price has climbed roughly 15% in Spain, but only 5% in Portugal.
The average price across the top five locations has increased by more than 30% since the pandemic, much exceeding the rate of general inflation since 2019.
According to Richard Singer, chief executive of TravelSupermarket, waiting until the last minute to see if prices fall before you make your bookings may also not work this year, as is unlikely that prices will fall substantially for this summer due to high demand.
He said: “Prices for next year are looking on par with this year.”
How to save money on holiday
According to Which? these are some of the best ways to stretch your holiday budget and make savings on your trip away.
- Booking at the last minute doesn’t guarantee a bargain. Research by Skyscanner found you generally get the best prices around six months in advance. And which day of the week you book and fly matters too.
- Don’t wait for the January sales - Around 80% of the deals were either the same price or cheaper on Black Friday than in January - with savings of more than £1,000. But bargains can be found any time of year.
- Use comparison sites to find cheap flights and hotels such as Google Flights, Kayak and Skyscanner
- Book flights directly with the airline as booking via online travel agents (OTA) could inflate your airfare by more than £100. Their headline prices may look enticing, but by the time you’ve factored in luggage and other extras, that figure skyrockets.
- Travel light as adding extra bags to your booking can more than double the cost of your flight. If you can manage it, flying with hand luggage only will save you money and time at the airport
- Go out of season to avoid soaring prices during the summer.
- Avoid the airport bureau de change as you could end up with an astonishing €115 less when changing £500 in the terminal vs the high street.
- Pay in the local currency to avoid foreign transaction fees of up to 3% (a charge from your bank for the conversion).
- Airbnb will not always be cheaper with hotels offering a good value option especially if breakfast is included.