Top holiday destinations see resort prices fall
The strength of sterling is pushing down prices in resorts and cities in Europe and further afield.
According to the latest Post Office Holiday Money Report, prices have fallen by up to 32% in 70% of the 44 resorts and cities surveyed worldwide.
Portugal’s Algarve has become the cheapest place for resort spending in the whole of Europe.
Even though sterling is still weaker year-on-year against the euro, prices in the resort have plummeted 18% and have helped it knock the Costa del Sol off the top spot.
Spain is the only eurozone country surveyed to register a significant price rise.
A 22% increase in meal costs on the Costa del Sol accounts for the overall rise in the price of eight typical tourist items to around £39, which means it fell to sixth position.
Prices in Turkey have also fallen by 19%, thanks to the strength of the pound against the lira.
Post Office head of travel Paul Havenhand said: "The fall in the value of the lira should make Marmaris and other Turkish resorts very attractive to bargain hunters. Not only have prices fallen this year but they are now 29% cheaper than two years ago."
But the biggest falls, of between 30% and 32%, were in Jamaica, Japan and the Gambia.
In its forecast of likely trends for 2014, Post Office Travel Money tips Burma, Qatar and the Philippines as emerging destinations to watch.
Its 10 hotspots for 2014, based on a combination of factors including currency performance, new flight initiatives, low resort costs and the strength/stability of sterling, are:
Bali
Croatia
Dominican Republic
Japan
New Zealand
Oman
Portugal
South Africa
United Arab Emirates (Dubai and Abu Dhabi)
Vietnam
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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