Families looking to head abroad will need to do half-term homework to get a good value getaway this February.
According to Post Office Travel Money research, a sterling slump of more than five per cent against the euro in the past month means that eurozone visitors will get £18.69 less in euros than a year ago when they change £500 into travel cash.
But families can keep costs down by making sure their last minute bargain deal is to a destination where resort costs are also low – and Post Office research reveals that Spain fits the bill as best bet for a half-term break.
By combining the cost of a half-term family holiday package (two adults and two children) with meals and drinks for one week, the Post Office found that the Costa del Sol (£2,075.04 for four) was cheapest of six popular half-term destinations. The others surveyed were Portugal’s Algarve, Cyprus, Lanzarote, Orlando and Dubai.
However, while Spain was cheapest overall, the Post Office research found that meals are cheaper in Portugal – so families planning to eat out regularly will find their holiday cash stretches further on the Algarve. For example, seven family meals in the Algarve (£274.75) costs £52.36 (16 per cent) less than in the Costa del Sol (£327.11).
Andrew Brown of Post Office Travel Money said: “Worryingly, the pound has lost over five per cent of its value against the euro in the past month and this downward trend makes it vitally important that families plan last minute half term trips to sunshine destinations carefully. They will only get the best possible value if they consider resort costs as well as at the package price before making a eurozone booking. “
