School holiday premium as much as £1,300

Families are continuing to face increased costs for taking a break during the school holidays, with new research revealing that the school holiday premium could be as much as £1,300.

Comparing the cost of popular family holiday getaways both inside and outside of term-time Nationwide Building Society’s "Summer Spending Report" revealed that parent’s wallets took a larger hit during school holidays. As an example, while the term-time cost of trip to Disneyland Paris for a typical family of four, with two children aged 7 and 9 stands at £2,457, this jumps by £369 to reach £2,827 during the school holidays.

A similar gulf was revealed when looking at a family holiday to Spain. While the term-time cost for this trip stood at £1,508, this leapt by a staggering £1,347 to £2,855 during the school holidays.

Families continuing to take term time holidays -Despite parents now facing a fine of £60 for taking their children on holiday during term time, it seems that many are prepared to foot the bill in order to ensure they make maximum savings on their holiday. Further figures from the research revealed that 72% of parents questioned opted for a foreign holiday during term time, with the majority (57%) of parents taking their children outside of school for a holiday at the end of term..

Primary school pupils (62%) are also more likely than secondary school pupils (32%) to be taken out of school for a holiday, according to the research. Commenting on the research findings, Graham Pilkington, Nationwide’s Director of Banking, Insurance and Investments said: “People are used to tightening their belts now, so even though the economic recovery is well underway, families baulk at paying a premium for vacationing during school holidays. However, schools and local authorities are getting tougher on parents who take their children away during school time, with the threats of fines and even prosecution.”

Date Created: 11 July 2014

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