How to save HUNDREDS on your holiday spending by swapping one resort for a cut-price copycat
- Simple ‘resort swaps’ that take advantage of the pound being strong are key
- Britons budgeted £344 for resort spending above package price on last holiday
Holidaymakers can save hundreds of pounds on food and drink if they are smart about where they go this Easter or summer, new research shows.
Simple ‘resort swaps’ that take advantage of the pound being strong against particular currencies, as well as price-cutting in certain holiday hotspots, are key.
It looks as though the appetite for holidays abroad remains strong if reports from tour operators, travel agents and airlines are to be believed. ‘A bargain package price does not always mean a cheap holiday, and could easily prove to be a costly mistake if the prices of food and drink are high,’ said Ed Dutton, of Post Office Travel Money.
‘The art of bagging a bargain lies in factoring in all elements of your holiday. There is a world of difference in the cost of meals, drinks and other tourist staples, so swapping destinations could save hundreds of pounds in a week.’
While package prices will include flights and accommodation, these are far from being the only costs when abroad. Britons budgeted £344 for resort spending over and above their package price on their last holiday, the Post Office found.
Holidaymakers can save hundreds of pounds on food and drink if they are smart about where they go this Easter or summer, new research shows
Ed Dutton said: ‘There is a world of difference in the cost of meals, drinks and other tourist staples, so swapping destinations could save hundreds of pounds in a week’
But seven in ten of them overspent this by 38 per cent (£132).
This highlights what a difference resort prices can make to the real cost of a holiday, and why swaps can save hundreds of pounds.
On top of inflation, recent declines in the value of the pound against currencies of popular holiday destinations may add to sun-seekers’ difficulties. The well-documented fall against the US dollar means holidaymakers visiting the Caribbean will get less for their pounds as currencies there are pegged to the dollar.
However, the Egyptian pound and Sri Lankan rupee have plummeted, so British visitors will have significantly more cash to spend in Red Sea destinations and resorts. Therefore, the key to beating the squeeze on spending this year is swapping destinations.
‘Be flexible in your holiday thinking,’ says Mr Dutton. ‘Bagging a bargain break is still possible, provided you do your homework.’
He said visitors to Egypt exchanging £500 will now have the equivalent of £210 more in the local currency compared to a year ago. Prices in Sharm-el-Sheik are also a lot cheaper than in other mid-haul holiday destinations. The wide variation in prices is undeniable when looking at costs researched by the Post Office for The Mail on Sunday. It created a basket of five items: a three-course meal for two with a bottle of wine, a cup of coffee, a beer, a soft drink and a large bottle of supermarket mineral water. The research made it possible to compare the costs to before the Covid-19 lockdowns.
The impact of local-resort costs is obvious when comparing the prices in Eurozone resorts – the pound is down by almost six per cent year on year.
However, it is over two per cent stronger than in March 2020. Yet prices for the same food and drink items still vary dramatically.
Simple ‘resort swaps’ that take advantage of the pound being strong against particular currencies, as well as price-cutting in certain holiday hotspots, are key
WESTERN MED
Portugal’s Algarve easily beats Spain’s Costa del Sol for value. Prices are on a par with the pre-Covid period on the Algarve. The same cannot be said for the Spanish resort, as they have risen by 21 per cent in the Costa del Sol.
Prices for the basket are £45.06 on the Algarve; it is 26 per cent higher on the Costa del Sol, at £57.11.
EASTERN MED
It is the same story in the eastern Mediterranean, where prices in Corfu are about eight per cent lower than in Paphos, Cyprus.
Meal and drink costs are £58.90 in Corfu – ten per cent lower than in March 2020. In sharp contrast, they have dramatically risen by nearly 14 per cent to £63.66 in Paphos.
THE CARIBBEAN
In Montego Bay, Jamaica, the cost of a meal and drinks has fallen 15 per cent since 2020. But rising resort prices and a strong Mexican peso mean costs have jumped by 80 per cent in Cancun.
At £70.25 in Montego Bay and £86.04 in Cancun for the basket, Britons buying a meal and drinks each day could pay £112 more in Mexico over a one-week holiday.
INDIAN OCEAN
For those prepared to brave the ten-hour plus flight and added travel cost, there are stark variations in price from one island to another. Since its political crisis last year, Sri Lanka’s rupee has slumped in value and this will make the country’s golden beaches far cheaper for British visitors.
It is £58 in Colombo for a meal and drinks compared to £93 in Mauritius – 60 per cent cheaper.
MIDDLE EAST
Egypt’s Red Sea resorts have been off the agenda for much of the past decade but are in consideration once again.
Even though prices in Jumeirah Beach, Dubai, are on a par with those three years ago, the basket cost of £121 is more than twice the price of Sharm-el-Sheik. At about £53, Sharm is a great choice for holidaymakers wanting to beat the squeeze.
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