Choosing an alternative summer holiday destination could save you £1,000

27th July 2016

Research from M&S Bank has revealed that the typical cost of a summer holiday has risen by an average of £357 compared with last year due to rising flight costs and a decline in the pound, which has continued to fluctuate following the EU referendum.

Around 57% of holidaymakers expect to spend more on their main getaway this year, with 22% of these saying holiday prices are now more expensive.

However, families can still save as much as £1,000, or an average of £537, on the cost of a week-long holiday simply by choosing alternative destinations in the same country rather than better-known resorts.

Visiting Arles in southern France instead of tourist hotspot Saint Tropez offers the biggest saving, with families able to pocket just over £1,064 in savings. Arles is also the second-cheapest destination researched, costing £3,468 for a family of four.

Holidaying in Vigo in north-western Spain provides the second-biggest saving, with a week-long trip costing a family of four £984 less than the popular resort town of Marbella in the south. For those looking to venture further afield, Durban in South Africa is £712 cheaper than Port Elizabeth and is the cheapest destination researched outside of Europe.

A little closer to home, Cinque Terre in Italy and Sintra in Portugal offer considerable savings of £636 and £628, respectively. Sintra is the cheapest destination overall at £3,452 for a family of four.

Paul Stokes, head of products at M&S Bank, said:

“Holiday prices may be on the up, but there are still savings to be had for families who are willing to consider alternative destinations instead of more well-known tourist [destinations].”

The bank claims that careful budgeting can also help cash-strapped families mitigate rising holiday costs. When planning their holiday spending, 52% of holidaymakers plan a budget and stick to it, while 33% don’t budget for holidays at all.

Stokes concluded:

“Making a budget for your holiday and sticking to it is essential to avoid any unnecessary spending. Shopping around for the best deals when purchasing your travel money will also help your money to go further this summer.”