Holidaymakers are beating the credit crunch by opting for a winter break, research by The Co-operative Travel has revealed.
Research based on three million holidays has shown that prices for this summer have risen by just under 3%. However, many winter destiantions are showing signficant decreases in price since last year.
The average price for a holiday in Antigua has fallen by nearly 18%, while holidays in Dubai are down 13% and Taba in Egypt down 12%.
As a result of these price reductions, the retailer says the number of its winter bookings has increased by 20% on this time last year.
The Co-operative Travel director of retail distribution Trevor Davis said: “The reaction of the holiday market to the current financial situation has been remarkable. People are still determined to go on holiday and overall bookings remain strong, up 7% overall on last year.
“This increased demand, combined with a reduction in the number of holidays for sale for summer 2008 by an estimated 1.25 million places, has meant prices have increased slightly. However, early bookings for winter holidays are showing significant price reductions and offer the best value for people looking to make their holiday budget go further.”
Its top ten winter holiday destinations are:
- Antigua
- Dubai
- Taba
- Switzerland
- Italy
- France
- Goa
- Orlando
- Bulgaria
- Cancun