Families face half term holiday premiums
Families planning a holiday during this month's half term break may be forced to pay premiums of up to 269 per cent, equivalent to an extra £4,619, according to new research from Santander Credit Cards.
The findings show that trips to some of the most popular overseas holiday destinations such as Florida and Crete are on average 53 per cent more expensive between the 19th and 26th of February, when most schools break for half term, than two weeks later when the schools return. A family of four planning a trip abroad during the school break can therefore expect to pay an average of £1,163 more than they would in the weeks that follow.
In the run up to half term, Santander Cards looked at the cost of a week-long trip for two adults and two children to five popular holiday destinations - Mallorca, Lanzarote, Gran Canaria, Orlando and Chania in Crete.
According to the research, families wishing to travel from London to Lanzarote could face some of the steepest price hikes, with one holiday at a popular four star resort increasing its prices during half term to a staggering £6,339 from £1,720. This £4,619 price rise is equivalent to 269 per cent.
The research showed that holiday packages with flights departing from London were subject to the biggest price hikes, with average premiums of 67 per cent, whereas families travelling from Manchester face price hikes of around 40 per cent.
Ian Coles, Director at Santander Cards, commented: "Holidays abroad during peak season will inevitably be subject to some price inflation because demand is so high. However, at a time when the cost of living is rising sharply and many families are still feeling the pinch, it's hard to justify such massive premiums.
"The price of the hotel and flights is only a fraction of the overall holiday cost, particularly for active families and those with children, but there are ways to reduce everyday spending and cut out unnecessary costs whilst abroad. As a first port of call, holiday makers should ensure they are only spending on a credit card whilst abroad that offers them fee-free foreign usage, such as Santander Zero Credit Card."