Falling resort costs ‘cushioning drop in value of sterling’

Resort prices have fallen in more than half of 15 leading European holiday destinations to help cushion the blow of the weakening value of the pound, new research reveals.

Bulgaria and Turkey have emerged as the best value for families looking to cut their holiday spending. 

The Bulgarian resort of Sunny Beach has seen prices fall by almost 14% since last summer.

A family meal for four including drinks together with the cost of a coffee, bottle of beer, glass of wine and soft drink comes in at just over £32 this year, according to the annual Post Office Travel Money Family Holiday Report.

This is a third cheaper than runner-up Marmaris in Turkey at £50.

Over the course of a week, families can expect to spend around £225 in Sunny Beach – £100 less than the average that families spent on food and drinks.

But prices in Ibiza, Croatia (Zadar), France (Nice) and Italy (Sorrento) are over three times as high. 

However, Ibiza (£97, down 11%), Zadar (£97, down 0.5%) and Sorrento (£130, down 5.7%) are among eight destinations where UK visitors will find a fall in meal and drinks costs.

The biggest drop is in the Algarve, where the Post Office barometer basket of food and drink items has plummeted since last summer by almost a third.

At less than £51, the Portuguese region is by far the cheapest of 11 eurozone resort areas surveyed. 

Prices have also dropped by 9.5% in Playa de Palma, Majorca (£75) to make it sixth cheapest.

Although the Costa del Sol (£66) remains lowest-priced of three Spanish destinations surveyed, this is 30% more expensive than the Algarve. 

At the same time the value available to families visiting Marmaris and other Turkish resorts has been boosted by a sterling surge that makes it worth around 20% more against the Turkish lira than last summer.

This means visitors can currently expect to receive around £83 extra in Turkish lira on a foreign exchange transaction of £500 at the Post Office. 

Nick Boden, head of Post Office Travel Money, said: “If you’re planning a beach holiday abroad, keeping a tight rein on your holiday funds will be crucial this summer to avoid busting the budget.

“The beach barometer reveals how paying for beach items can tip the family holiday budget into the red so plan carefully and keep costs down by packing suncream, insect repellent, swimming goggles and last year’s lilo into the suitcase.  

“Another easy win is to buy currency before leaving home to avoid poor airport bureau rates. Plan how much you will need carefully and take enough foreign cash because changing money abroad or paying on plastic is more expensive when transaction charges are added.

“Families who are still considering where to holiday will benefit by doing their homework and matching the best value resorts in our survey with the cheapest late deals.”

Lowest and highest Beach Barometer prices