BARGAIN HOLIDAYS AS COSTS SLASHED
Half term joy as pound soars
THE cost of family holidays has been slashed by the soaring pound.
Sterling rocketed to a nine- year high against the euro yesterday.
The “bonanza” – just in time for half term next week – has cut costs by up to half for all Britons heading to eurozone destinations like Spain, Portugal, France and Greece.
From today, £ 1 buys 1.32 euros, the best tourist rate since 2006. Holidaymakers spending £ 500 will get an extra 67.5 euros (£ 52) compared to this time last year. Sterling is up 50 per cent from an
all- time low in 2009 when £ 1 bought less than one euro.
Meanwhile, experts say price wars in many resorts have slashed the cost of food, drinks and entertainment even further.
Bargain prices have triggered a surge in holiday travel with currency sales up 220 per cent compared to this time last year.
Bob Atkinson, of Travel-Supermarket, said: “Current euro exchange rates are a bonanza for families heading abroad this half term to Europe.
Slashing
“Hoteliers, restaurateurs, bar owners and shop keepers are slashing prices to attract holiday spending.”
Holiday firms are cutting hundreds of pounds from the cost of package trips if people book now, even to destinations outside the eurozone like Bulgaria and Sharm El Sheikh in Egypt.
However, experts warn the cost of long- haul travel is rising and recommend choosing Europe rather than Dubai or the Far East to cash in on the best deals.
Post Office Travel Money spokesman Andrew Brown said: “There is no doubt that UK tourists can look forward to getting more travel cash for their pounds this year in Europe but people planning trips further afield could get caught out by falling rates for sterling in some countries.”
Resort prices have plunged 50 per cent on Portugal’s Algarve, and 48 per cent on the Costa del Sol in the past six years.
Spain is 11 per cent cheaper than last year and Portugal is three per cent cheaper.
A Post Office holiday money report comparing the cost of a basket of goods including a cup of coffee, a three- course meal for two and a bottle of water shows Portugal cheapest at £ 32.67 on the Algarve, followed by Sunny Beach, Bulgaria, at £ 32.69. On the Costa del Sol it cost £ 33.64.
A meal in Spain will set holidaymakers back around £ 23, with a bottle of beer costing £ 1.54 and a can of cola 92p.
A spokesman for travel association ABTA said: “Holidaymakers are taking advantage of the strong exchange rate with summer bookings to eurozone destinations up three per cent from last year. France, the Canaries and Cyprus are all proving particularly popular.
“With the pound at a nine- year high, consumers are enjoying a bit of extra cash and with destinations competing for business there are some fantastic deals on offer.”