Families can save £900 on holidaying abroad this year

Family Holiday BeachM&S Bank has revealed that the cost of a family holiday during the May half term has fallen by 5% year-on-year with savvy families able to save up to £900 for a week in the sun by choosing alternative destinations.

By choosing a different holiday resort in their country of choice British families can save an average of £490 (£123 per person).

The biggest savings can be made in the “alternative destinations” of Greece, the Canary Islands and Italy.

Choosing an alternative holiday destination

By swapping the popular Greek holiday island of Crete to Thassos, a family of four could save a total of £896 (£224 per person). Otherwise, a break away in the sun-soaked island of La Palma in the Canaries rather than choosing Lanzarote could save families £892.

La Palma was found to be the cheapest holiday destination overall, with the average cost of a family of four standing at £1,872 for a seven day break – a 5.6% decrease from last year.

Petrovac, Montenegro, found itself in second position as the most affordable family holiday destination, with a family of four trip costing £1,912 for a week – a saving of 5.2% when compared to 2014.

However, Barcelona won the award for the holiday destination witnessing the largest price fall in the past 12 months – an 8.4% decrease in price – leaving a week’s holiday for a family of four dropping from £2,733 to £2,504.

The historic Nessebar in Bulgaria was found to have the cheapest accommodation, where a family room for two adults and two children came in at £203 for the week, while the Greek island of Thassos housed the cheapest local costs – excluding flights – standing at £706 in total.

Paul Stokes, Head of Products at M&S Bank, commented that those families looking for a half term holiday abroad can make the most of these cheaper locations while the pound continues to perform strongly.

If you’re thinking of heading abroad this half term, make sure you book family travel insurance in advance.

Date Created: 14 May 2015

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