Press Release
14 October 2016
From the Big Apple to the Balearics, flexible holiday destinations could save a family £650 this half-term
- Cost of an October half-term family holiday up by an average of £437 from last year
- However, families can save as much as £650 by choosing alternative holiday destinations in the same country, including New York
- Other big holiday savings can be found in Portugal and Greece
M&S Bank research shows the cost of a family half-term holiday has risen by an average of £437 or 11.7 per cent year-on-year, mainly due to the continued decline in sterling. However, families can still save as much as £650, or an average of £386, by choosing alternative destinations in the same country instead of better-known resorts.
Visiting affluent Long Island in New York instead of popular Manhattan offers the biggest savings this half-term, with families able to pocket £652 in total or £163 per person. The sights of the Big Apple are easily accessible from Long Island, but accommodation in this lesser-visited suburb is significantly cheaper, at an average of £1,337 for a week-long stay in a family room compared to £1,865 in Manhattan.
Paul Stokes, head of products at M&S Bank, said: “Although holiday prices are on the up – partly due to the value of sterling continuing to fall – families can still benefit from significant savings by looking beyond the most popular destinations.
“Staying in Long Island is an excellent alternative to Manhattan, offering families a great saving. However, with the cost of staying in New York topping our list due mainly to the cost of the long-haul flight, it’s probably more of a special family treat rather than a cost-effective getaway.”
Holidaying in Alentejo in southern Portugal is more affordable and provides the second biggest saving, with a week-long trip costing a family of four £580 less compared to a stay in Lisbon. Meanwhile, venturing away from tourist hotspot Crete in Greece and visiting the seaport town of Nafplio instead will save families a total of £576, mainly due to cheaper flight costs.
Table 1: Top five biggest alternative holiday destination savings
| Country | Destination | 2016 cost per person | 2016 total cost | Alternative destination savings |
|---|---|---|---|---|
| New York | Manhattan | £1,734 | £6,936 | |
| Long Island | £1,571 | £6,284 | £652 | |
| Portugal | Lisbon | £900 | £3,600 | |
| Alentejo | £755 | £3,020 | £580 | |
| Greece | Crete | £935 | £3,740 | |
| Nafplio | £791 | £3,164 | £576 | |
| Spain | Menorca | £990 | £3,960 | |
| Formentera | £882 | £3,528 | £432 | |
| Croatia | Dubrovnik | £995 | £3,980 | |
| Opatilia | £911 | £3,644 | £336 |
Top five most affordable destinations offer a holiday at £900pp or less
As well as offering families considerable ‘alternative destination’ savings, Alentejo and Nafplio are also the two cheapest destinations overall, making them great options for families on a tighter budget.
At £3,020 for a family of four (£755 per person) Alentejo is the most affordable destination. The area benefits from the cheapest accommodation costs of all the destinations researched (£373 for a week’s stay in a family room). Nafplio is only slightly more expensive at £3,164 in total.
Turkey’s Oludeniz – known for its picture perfect blue lagoon – is the third most affordable option at £3,504 for a family of four, despite costs rising by 18.2 per cent as sterling weakened against the Turkish Lira (down by 17.0 per cent year-on-year).
Formentera, Spain’s smallest Balearic Island, is fourth most affordable (£3,528) while Portugal makes its second entry into the top five cheapest destinations with a half-term break in Lisbon costing £3,600 for a family of four.
Table 2: Top five most affordable destinations overall
| Destination | 2016 cost per person | 2016 total cost | 2015 total cost | % difference | £ difference |
|---|---|---|---|---|---|
| Alentego | £755 | £3,020 | £2,663 | 13.4% | £357 |
| Nafplio | £791 | £3,164 | £2,817 | 12.3% | £347 |
| Oludeniz | £876 | £3,504 | £2,966 | 18.2% | £538 |
| Formentera | £882 | £3,528 | £3,093 | 14.1% | £435 |
| Lisbon | £900 | £3,600 | £3,156 | 14.1% | £444 |
Paul Stokes continued: “Whether it’s the Big Apple or the Balearics, being flexible with holiday plans and shopping around for travel money are the best ways of reducing the cost of a family holiday this October half-term.”
Paul shares his top travel money tips:
- Always check whether an alternative destination in the same country could be more affordable – being flexible with your holiday plans could result in big savings
- Make a holiday budget by working out how much your holiday will cost and how much travel money you will need. Even if you’re staying in half-board or all-inclusive accommodation, don’t forget to factor in costs for excursions, taxis, tips and other extras
- Find out if you can buy tickets online and in advance for activities you’re planning, as these are often discounted and will help you to avoid the queues
- When buying travel money in-store, don’t rely on internet rates; many providers have different rates online and some change their rate throughout the day
- Never leave your holiday money until the last minute; airport bureaux usually offer less competitive rates and may not have a wide variety of note denominations
- Always take both travel money and a credit or debit card to ensure you’ve got multiple methods of payment
-ENDS-
Full results: Top 10 alternative holiday destination savings
| Country | Destination | 2016 cost per person | 2016 total cost | 2015 cost per person | % difference | £ difference | Alternative saving |
|---|---|---|---|---|---|---|---|
| New York | Manhattan | £1,734 | £6,936 | £6,263 | 10.7% | £673 | |
| Long Island | £1,571 | £6,284 | £5,713 | 10.0% | £571 | £652 | |
| Portugal | Lisbon | £900 | £3,600 | £3,156 | 14.1% | £444 | |
| Alentejo | £755 | £3,020 | £2,663 | 13.4% | £357 | £580 | |
| Greece | Crete | £935 | £3,740 | £3,404 | 9.9% | £336 | |
| Nafplio | £791 | £3,164 | £2,817 | 12.3% | £347 | £576 | |
| Spain | Menorca | £990 | £3,960 | £3,506 | 12.9% | £454 | |
| Formentera | £882 | £3,528 | £3,093 | 14.1% | £435 | £432 | |
| Croatia | Dubrovnik | £995 | £3,980 | £3,585 | 11.0% | £395 | |
| Opatilia | £911 | £3,644 | £3,290 | 10.8% | £354 | £336 | |
| Malta | Silema | £1,135 | £4,540 | £4,089 | 11.0% | £451 | |
| Mellieha | £1,051 | £4,204 | £3,809 | 10.4% | £395 | £336 | |
| Canary Islands | Lanzarote | £1,225 | £4,900 | £4,477 | 9.5% | £423 | |
| Las Palmas de Gran Canaria | £1,152 | £4,608 | £4,190 | 10.0% | £418 | £292 | |
| Cyprus | Nissi Beach | £1,316 | £5,264 | £4,828 | 9.0% | £436 | |
| Limassol | £1,249 | £4,996 | £4,599 | 8.6% | £397 | £268 | |
| Turkey | Bodrum | £939 | £3,756 | £3,224 | 16.5% | £532 | |
| Oludeniz | £876 | £3,504 | £2,966 | 18.2% | £538 | £252 | |
| Madeira | Santa Cruz | £1000 | £4,000 | £3,598 | 11.2% | £402 | |
| Camara de Lobos | £965 | £3,860 | £3,479 | 10.9% | £381 | £140 |
*All holiday costs are for a family of four for one week. Costs include seven nights’ accommodation, return flights, dinner, spending money and one activity. All flights and accommodation booked for a family of four from 22nd to 29th October. Accommodation costs are from www.expedia.co.uk and represent the average 3 star hotel family room cost. All restaurants from www.expatistan.com/cost-of-living. Spending money based on results of consumer research (£563 per person). All exchange rates from M&S Bank correct for 29th September 2016 and 2015.
Always check the latest Foreign Office travel advice before travelling. Visit www.gov.uk/foreign-travel-advice for more information.
For further information please call the M&S Bank press office:
Louise Wheble on 01244 686 177 / louise.wheble@mandsbank.com
or
Alex Henshall on 01244 686 092 / alex.d.henshall@mandsbank.com
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