· The Costa del Sol is best bet for a half term holiday with low resort costs and the cheapest family packages

· Sterling buys £27 fewer euro than last year on a £500 exchange but families planning a trip to Turkey will get £35 more holiday cash

Families hoping to escape the UK this half term and swap the autumn for a sunshine break will need to do their homework to secure the best value, according to the Post Office Travel Money Half Term Barometer. The research shows a sterling slump of 5.2 per cent against the euro meaning that eurozone visitors will get around £27 less in euros than a year ago [1] when changing £500.

But holidaymakers can keep their costs down by choosing a destination where both resort costs and package prices are low. Using this formula, new research by the Post Office reveals that Spain’s Costa del Sol fits the bill as best bet for a half term getaway. [2]

By combining the cost of a half term family holiday package (two adults and two children) with meals and drinks for one week, Post Office Travel Money found that the Costa del Sol (£1,108) was cheapest of six popular European half term destinations. The Algarve (£1,137) was close behind, just £29 more expensive. The other four destinations surveyed – Majorca, Marmaris, Ayia Napa and Tenerife – cost between £1,210 and £2,186 for a family of four.

The Costa del Sol was cheapest overall with the lowest package prices and resort costs, but the Post Office found that prices for meals and drinks were also low in the Algarve and Tenerife. Eating out costs more in Marmaris, but lower package holiday prices make the top Turkish resort less expensive (£1,395) than Ayia Napa (£1,619) or Tenerife (£2,186). Families planning a half term trip to Marmaris will also find their pounds stretch further as sterling currently buys 7.6 per cent more Turkish lira than a year ago – the equivalent of over £35 on a £500 exchange.[1]

Elsewhere in Europe, while meals and drinks cost only four per cent more in Tenerife than in the Algarve, higher half term package prices push the winter sun favourite into sixth place – 35 per cent more expensive than Ayia Napa and almost twice as much as the Costa del Sol.

Andrew Brown of Post Office Travel Money said: “Our new research proves just how important it is for families to check all costs when it comes to choosing a last-minute half term destination. The combination of low resort costs and cheap packages make the Costa del Sol best value overall, but with holiday prices changing all the time, the Algarve and Majorca are still worthy contenders this half term.

“Travelling at half term may be a last-minute decision but there are still ways that families can plan ahead, like checking resort costs in advance and organising foreign currency before leaving home to avoid getting a poor rate at the airport.” 

Families can get their euros on demand in more than 10,000 Post Office branches, while 4,000 larger branches offer Turkish lira over the counter. More than 70 currencies can be pre-ordered at over 11,500 Post Office branches or online at postoffice.co.uk for next day branch or home delivery.

ENDS 

For more information, please contact:

Christine Ball, CBPR                              
01798 874177                                                                                               
cball@cballpr.co.uk

Gabrielle O’Gara, Post Office Press Office      
020 7012 3456
Gabrielle.ogara@postoffice.co.uk

Notes to Editors:

[1] Post Office exchange rates (16 October) show that £500 will buy €569 this year compared with €601 in 2012 – a difference of £27.66. £500 will buy 1,498 Turkish lira (TL) this year compared with 1,392 TL in 2012 – a difference of £35.33.

[2] The Post Office Half Term Barometer is compiled from data supplied by national and regional tourist offices, except Tenerife (researched independently online). Holiday packages were sourced online (travelsupermarket.com, 16 October) based on the lowest available price for two adults and two children under 12, including flights from London on 26 or 27 October and seven nights' self-catering or room-only accommodation.

Source: Post Office.  Data relates to Post Office exchange rates on 16 October 2013