The gain in Spain for families ‘self-catering on a shoestring'

Families planning self-catering holidays in Europe to keep costs down should head to Spain or Portugal to avoid getting caught out by higher supermarket and food shop prices in other eurozone destinations, according to Post Office Travel Money’s Self-Catering on a Shoestring report. This reveals that almost one in ten parents overspend on shopping by over £100 and suggests that they are more likely to spend more in the eastern Med because supermarket prices can be 80 per cent higher than in Majorca or Portugal.
 
After finding that 15 per cent of holidaymakers surveyed for its annual Holiday Money Report were planning to save cash by opting for self-catering, Post Office Travel Money surveyed the cost of a weekly family shop in 12 European destinations.  The research, conducted for the Post Office by villa holiday specialist Meon Villas, found significant variations across the eurozone for 20 typical food and drink staples. 
 
The cheapest destinations by some distance were Majorca and Portugal but Meon Villas resort staff discovered that the same shopping basket could cost as much as 70 to 80 per cent extra in Italy, Crete, Corfu and Cyprus.   
 
At £57.67 for enough basic provisions to cover a one week holiday Majorca was lowest priced for the second consecutive year, followed closely by Portugal’s Algarve (£57.78).  Spain’s Costa Blanca took third place (£65.31) and a second Balearic island, Menorca, completed the quartet of cheap places to self-cater (£66.71).  
 
However, family self-catering in Italy cost much more (£98.09). The shopping staples, ranging from bread to beer and pizza, were pricier still in Crete (£99.18) and in Corfu, where the total of £100.31 was 44.7 per cent higher than a year ago.  Cyprus was highest-priced, like Corfu with a bill topping £100 (£104.29).
 
Post Office Travel Money also compared the cost of self-catering in the UK with the 11 eurozone destinations.  At £89.08, Brighton took eighth of 12 places in the self-catering table, although its total dropped by 2.7 per cent compared with a year ago.
 
Brighton was one of nine destinations where prices were found to have fallen year-on-year.  The biggest drops were in Menorca (-17.4 per cent), Kephalonia (-17.7 per cent) and Gozo (-25.0 per cent).  However, this masks the fact that a drop in the value of the euro against sterling – 10.8 per cent weaker than a year ago – accounts for much of that price fall.  When prices were compared in local currency, only four eurozone resorts had registered a fall (Menorca, Gozo, Lanzarote and Kephalonia).
 
Andrew Brown, Post Office Head of Travel Money, said: “The variations we found in supermarket prices mean that families will be well-advised to check prices before booking and our website provides them with useful comparisons. Although self-catering can be a great way for families to save money, they should choose their destination carefully. Majorca and Portugal are great value options but Greece is looking more expensive.
 
“Another thing to consider when budgeting for a self-catering holiday is how much drinks will cost. Our research shows that families could pay just over £5 for a coffee, a soft drink, a glass of wine and a beer in Gozo or Majorca but £10 or more in Brighton, Crete and Lanzarote.
 
“Another way that families can ensure they don’t lose out on holiday cash is to avoid changing cash at the airport or at overseas ATMs where poor rates and charges will cost them dear.  Planning ahead and loading the holiday budget onto a pre-paid card like the Post Office Travel Money Card is a great way to keep costs in check.”
 
Families can get their euros on demand in more than 8,500 Post Office branches, while 1,600 larger branches keep stocks of the 25 most popular currencies. Over 70 currencies can be pre-ordered at all 11,500 Post Office branches or online using the ‘Click & Collect’ service at postoffice.co.uk for next day branch or home delivery.