Holidays pricier than ever – but you can still find deals

THE COUNTRIES OFFERING BARGAINS

The plummeting value of the pound against other currencies has upturned markets. And it has also put half-term holidays in jeopardy.

Currency movements have made holidays to Europe and the US much more expensive. But there are countries where holidaymakers can still get more for their money. Holidays to destinations such as Argentina, Bulgaria and Turkey, where local currencies are weaker or prices are lower, have never been more attractive to holidaymakers hoping to save on a getaway.

While the exchange rate for pounds to euros has fallen by 2.7pc since Sept 1, £1 currently buys roughly 160.5 pesos in Argentina, an increase of 0.54pc. A pint of beer would cost £2.36 under the most recent exchange rates, compared with £3.65 in Spain.

In Bulgaria, where the value of the pound has fallen by 2.8pc, £ 1 is equivalent to 2.20 levs. However, the lower cost of living means a holiday in Bulgaria is still a cheaper option than many other European destinations. A basic meal for two in a pub costs £18.19, according to Expatistan, a website that tracks the cost of living abroad. An equivalent meal in France would cost £39.90, the website found.

The same is true in Turkey, where the value of the pound has fallen by 3.19pc, meaning £ 1 buys 20.25 lira. According to Expatistan, a threecourse meal for two would cost around £42.48 under today’s rates, while the equivalent meal in Italy would set you back roughly £58.53.

Abta, formerly known as the Association of British Travel Agents, said many countries around the Mediterranean, such as Greece, were still affordable for British holidaymakers, despite the higher exchange rate, due to the lower cost of living there.

A spokesman added: “There are ways that customers can help safeguard the cost of their trip, such as booking early, or if they are concerned about exchange rates, allinclusive package holidays are great, stress-free options and they are widely available in many destinations around the world.”

Families have been hit further as the tumbling pound has coincided with soaring flight prices, which have risen by almost 50pc during October half-term compared to pre

Bulgaria £1 = 2.20 levs

The pound has slipped against the Bulgarian currency but costs are very low pandemic levels. Consumer campaign group Which? found prices had risen by 42pc on average, from £ 150 to £212, for one-way journeys to major European destinations. Prices from Heathrow to Malaga soared by 216pc, rising from £89 to £282 for a one-way ticket.

The largest increase in cash terms was for journeys between Heathrow and Tenerife, where the one-way cost rose by £262, from £165 to £427 – an increase of 159pc. This would add £2,096 to the cost of a holiday for a family of four.

Travellers have seen prices rise because of increased fuel costs, caps on passenger numbers at Heathrow and a fall in the value of the pound, experts said.

Which? analysed prices listed on Skytra, a price comparison site, six weeks before October half-term departures in 2019 and 2022.

Bookings made well in advance of half-term were far cheaper, the analysis found. The average prices for flights to Alicante, Antalya in Turkey, Dubai, Malaga and Tenerife were found to be much less when booked six months in advance.

Holidaymakers choosing to fly to Europe are also facing much higher prices thanks to the fall in the value of the pound.

An adult ticket to climb the Eiffel Tower costs €26.80 – equal to £22.51 under the exchange rate on Aug 2, when £1 was worth €1.20 at its recent peak. But as of Sept 29, that same ticket will be 6pc more expensive at £23.82.

Compared with last year, a week’s average holiday spending in Spain was found to be £ 500 more expensive, according to research from Eurochange, a currency exchange store. It found that accommodation fees, restaurant meals and car hire had all increased year on year, in part owing to currency rates but also because local businesses raised prices to make up for losses during the pandemic.

Nightly hotel prices were found to have increased by 36pc over the last year, while car hire is up 136pc. A restaurant meal costs 9pc more.

Charles Stewart, of Eurochange, said: “Preparation is key when it comes to cutting costs, as there are many package holidays and budget flights available if you research.”