The slump in the value of the euro could save British families hundreds of pounds on their next European holiday, Monarch Group claims.

A combination of exceptional booking deals and cheaper prices in resort will benefit holiday bookers.

With the average family of four spending around €960 on eating out and visiting attractions, the strength of the pound against the euro has seen resort expenses tumble, according to the travel group.

Holidaymakers are saving on everything from €1.50 bottled water to expensive attraction entries and meals out, pocketing an average of £70.00 per family break.

Monarch Travel Group sales director Gary Anslow said: “We are seeing lower holiday prices than last year, and the euro exchange rate is helping.

“There are some excellent early deals available to the most popular European hotspots, and once you have booked a great price holiday, it will also be better value when you get there, with the euro in your pocket going further than before. The perfect holiday is more accessible than ever.”

Ian Chambers, head of retail and online at Monarch Airlines, added: “There’s never been a better time to scoop a great value holiday deal. Customers should keep an eye on deals to both Crete and Cyprus where falls in the cost of eating out make these Mediterranean islands better value than ever before.

“Whether you choose to go self-catering or to eat out, the falling cost of living in many European countries coupled with a slump in the euro means that British holidaymakers are seeing their money go much further.”