Holidaying Parents Feel Effects Of Travel Premiums

A newly-released study has asserted that those planning family holidays during half-term breaks may see the costs of travel and accommodation increase significantly.

May 18, 2008 (FPRC) -- Statistics from financial services provider Abbey Credit Cards suggest that the costs of a vacation can rise by as much as 80 per cent during the peak period. With a number of initiatives in place encouraging parents to holiday outside of term, it seems that many parents could be paying a high price for making sure their children don’t miss out on learning.

For those looking for the funds to cover the cost of a holiday abroad, a personal loan may be useful. By taking out a loan, consumers could find that they are afforded greater flexibility in planning a dream holiday.

Advising those who are looking to make a saving in a tightened economic environment, Abbey identifies Spain as a particular cost-effective holiday destination. It asserts that parents will pay an average of 348 pounds for a four-star hotel break in the European country. Comparable costs for holidays in Cyprus and the Algarve stood at 439 pounds and 553 pounds respectively. The company asserts that Spain rightfully upholds its long-standing reputation as a top destination for budgeting holidaymakers.

Callum Gibson, head of Abbey Credit Cards, commented: “For many families money is tighter than ever this year, so every penny counts. There are a number of ways to keep costs down on foreign holidays such as booking in advance to get the best deal, shopping around for the best price on foreign currency, taking a credit card on holidays that saves you money on foreign exchange fees and putting your holiday on a zero per cent credit card where appropriate.”

The company also asserts that for those who are optimistic about the likelihood of fair weather during the summer months, significant cost savings can be made on holidays in the UK. However, the costs of vacations in this country still increase dramatically during half-term. A four-night break in Pontins is said to cost 239 pounds per person starting on May 26th, more than twice the cost of travelling a week earlier. Centerparc’s prices were also found to rise considerably, with a four-day break at the Sherwood Forest resort said to cost 799 pounds outside of term time, up from 479 pounds for bookings made for the week previous to the May school break.

Those living north of the border where half-term holidays start earlier, Abbey asserts that parents can expect to pay a uniform price for any holiday booking made in May, while in the summer holidays, Scottish consumers can expect to pay less than their counterparts in Newcastle or London. A half-board seven-night break in a four-star hotel in Spain will cost Scots 497 pounds, compared to the 608 pounds it would cost Londoners and 597 pounds those from Newcastle would have to pay for the same trip.

Consumer groups other than parents have also recently been identified as coming under financial strain. Personal finance commentator Cliff D’Arcy suggested last month that young people are finding it difficult to save money because of the financial burden of maintaining a fashionable that is beyond their means. For those looking to fund new purchases or book a holiday, a personal loan may be of use in providing necessary funds quickly.

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