Cost of holidays on the rise but prices continue to vary

The average price of package holidays across five top destinations is up more than 30%, well above the rate of general inflation since pre-pandemic 2019, a new study reveals.

Overall, holiday costs to Spain, Turkey, Greece, Portugal and Cyprus, have gone up by nearly 12% this August over the same month last year.

The average price of a week with full food and board in Majorca has risen by 21% year-on-year, figures from TravelSupermarket show.

The average of the top five most popular destinations for UK travellers has risen by 11.9% since last year, but there is variation between countries.

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The package price has risen fastest in Spain, up nearly 15%, but only by 5% in Portugal.

Prices for countries beyond the Med have also risen, according to the figures compiled by the price comparison website for the BBC.

A week in Morocco is 27% more expensive than last year.

TravelSupermarket calculates the average using the results of searches for holidays in the given destinations. While this shows a general trend, exact costs will vary depending on location and time of booking.

Latest data from the price comparison site across the top 15 most-clicked destinations supplied to Travel Weekly shows continued price variations, with Bulgaria, Cyprus and Algarve all still cheaper than in April and May for August travel, although they were slightly less expensive earlier in June than they are now.

Majorca, Rhodes, Corfu, Costa Blanca and Costa Brava are all more expensive than they were in April and May and prices continued to increase in June. 

Rhodes is 13% more expensive now than in April – the highest increase across the top 15 destinations.

Antalya in Turkey, Crete, Tenerife and the Maldives are currently cheaper than they have been at any point over the period since April. 

The change for somewhere like Antalya is minimal  – less than 1% cheaper than April – but Tenerife is 8.5% cheaper, saving close to £90 per person. Crete is 10% cheaper than in May at £106pp.

Sandra Ollerton, who runs Preston Travel Centre in Lancashire, told the BBC that demand remains high.

But some people are cutting the length of their holidays from two weeks to one to save money or finding other ways to “travel smarter”.

“We’re seeing an increase in multi-generational holidays, because we’re finding that some of the grandparents weren’t affected as much financially by Covid or the cost-of-living crisis, so they are helping out their children and their grandchildren,” she said.

TravelSupermarket chief executive Richard Singer ruled out last minute deals this year due to demand outstripping supply, despite higher prices.

He said: ”It is unlikely that prices will fall substantially for this summer. 

“Prices for next year are looking on a par with this year.”

More: Longer-duration holidays ‘can sometimes work out cheaper’

Summer holidays remain a priority despite mounting household costs, poll finds

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