Families may be priced out of their holiday abroad this year after costs soared by up to a quarter in some of the most popular resorts.
The blow comes after travel association Abta declared summer getaways were “back with a bang”.
TravelSupermarket found the average price of a week’s bed and board in Majorca was up by 21 percent from last year while in Tenerife it’s 22 percent. In Crete the bill shot up 25 percent.
Overall, the cost of holidaying in the five most popular countries for Brits – Spain, Turkey, Greece, Portugal and Cyprus – is up by 12 percent.
And compared to pre-pandemic packages, the average price is up by a third, outstripping the rate of general inflation since 2019. TravelSupermarket boss Richard Singer said those hoping for a last-minute bargain will be disappointed as demand keeps getaway bills high.
He said: “It is unlikely that prices will fall substantially for this summer. And prices for next year are looking on a par with this year.”
In more bad news, experts found the cost of holidaying in budget destinations beyond the Med have also risen. A week in Morocco is 27 percent more expensive than last year, while Bulgaria has gone up by 13 per cent.
There are big variations though. For instance the average price of a package deal in Spain has risen by 15 percent – but in Portugal it’s just five percent.
Two-thirds of us are planning a foreign holiday this year, with 37 percent already booked up, a poll by Abta suggests. More than half say they will cut back on other non-essentials so that they can afford to go away.
Abta’s chief executive Mark Tanzer said: “One of the sectors hardest hit by the pandemic is back, and in a big way. “Both our research and reports of strong booking levels from our members show holidays remain a spending priority for the year ahead, despite the current squeeze on finances. People are preferring to adapt their travel plans rather than scrap them entirely.”