54% of those surveyed revealed they would be choosing to stay on English shores for their summer holiday, believing that it would be cheaper than going somewhere abroad.
Unfortunately, despite good intentions of sticking to a budget, staycationers may be shocked to find that a holiday in this country could set them back more than spending a week in another European destination.
M&S Money found that a week long break in London is 25% more expensive than the average foreign beach holiday, due to high accommodation costs and the amount of spending money required.
The same may go for other UK holiday destinations, where the average family may have to pay for a number of meals out each day as well as admission fees and petrol costs etc.
An all inclusive beach holiday on the other hand, tends to set you back one set fee which includes food, drink and entertainment – meaning that other than the odd souvenir or excursion there is little to shell out for.
Jane Lawson, Head of Travel Money at M&S Money said: “Staycations are clearly popular this year, particularly as people look forward to celebrating the Jubilee and Olympics, in what will be a British summer to remember. However, with the cost of activities and eating out in the UK relatively high and favourable foreign exchange rates helping to make your money go further abroad, a holiday at home is not always the most affordable option.”
Lawson recommends shopping around for great deals on travel and accommodation whilst also thinking about exchange rates, local costs and any extras you will need to spend money on.
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