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UK families on European beach holidays hit by price rises

todayJuly 22, 2023 4

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UK families on European beach holidays hit by price rises

That’s according to analysis in the Post Office Family Holiday Report

UK families embarking on European beach holidays are being hit by higher prices compared with last summer due to inflation, figures show.

The cost of tourist staples such as meals, drinks and beach items have risen year-on-year in 15 of the 16 destinations analysed in the Post Office Family Holiday Report.

Italy’s Puglia was the only location where prices for UK visitors have dropped, with a 10.3% fall.

The highest annual increases are in Sunny Beach, Bulgaria (up 41.0%), Marmaris, Turkey (up 33.3%) and Funchal, Madeira (up 24.1%).

Despite the rises, Marmaris and Sunny Beach were among the three destinations with the lowest prices, alongside Portugal’s Algarve.

The report found that prices in Marmaris have doubled year-on-year due to inflation and the unstable economy.

The impact on UK visitors has been limited due to a 64% decline in the value of the Turkish lira compared with sterling.

Laura Plunkett, head of travel money at Post Office, said: “Although sterling is at a 2023 high against European currencies, inflation has hit local prices abroad just as it has in the UK.

“This means families should expect to pay more for meals, drinks and other tourist items in most resorts.

“Ironically, two of the cheapest destinations we surveyed – Turkey and Bulgaria – have seen the biggest rises.

“However, they are still places where bargain hunters will get the most for their money.”

Richard Sofer, commercial director at Tui UK and Ireland, which contributed to the report, said: “Holidays will always be a priority for our customers, but value for money is clearly more important now than ever before.

“Despite the rising costs of living, many customers aren’t willing to sacrifice their precious annual getaway and we’ve seen a trend in customers opting for more affordable destinations, including Bulgaria and Turkey, with Greece and the Balearics also a firm favourite.

“We’re also seeing some customers taper their holiday slightly, such as reducing holiday duration from 14 nights to 7, 10 or 11-nights.”

Published: by Radio NewsHub

Written by: admin

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