Holidaying in London is more expensive than a foreign beach resort
New figures suggest that a holiday in London could be up to 25% more expensive than a trip overseas.
As the summer holidays edge closer, a number of people are torn between heading overseas for a break and staying in the country. New research from M&S Money revealed that staying in the English capital could be considerably more expensive than going abroad.
With half of Brits planning on staying in the UK this summer, they could face higher holiday bills. The research found that a one-week stay in London for those wanting to celebrate the Olympics could cost an average of £1,631 compared to the average overseas beach holiday at £1,298.
The research compared the cost of a week in nine of the most popular beach holiday destinations against a week-long stay in London and found that Alicante, Spain offers the best value at £927.
Beach holidays in France, Turkey, Portugal and Crete were also found to be significantly cheaper than London.
A week’s stay in Hua Hin, Thailand will set holidaymakers back an average of £1,422, compared to the £1,631 Brits would pay to stay in London. Despite this, 54% of UK adults are planning on staying in the country for the summer and 26% of them are doing so because they think it will be cheaper.
Barbados and Florida were the only two other popular holiday destinations that were listed as more expensive than a stay in London.
High accommodation costs in the run up to the Olympics combined with flights and spending money mean that London will be an unavoidably expensive holiday option during the summer period.
Anyone travelling on a tight budget this summer might want to consider the benefits of taking out a pre-paid credit card.