Families cash in on summer price crash

As the traditional school holiday getaway begins today (23 July), research by The Co-operative Travel of over 3,500 bookings has revealed that the prices for family holidays have fallen by as much as 34% since last summer*.

As well as being a boost for cash strapped families, it is also a significant reversal of the normal trend for family holiday prices to leap dramatically during the peak holiday period in July and August.

According to The Co-operative Travel’s figures, the biggest savings are to be found in Eastern Mediterranean resorts, in particular Paphos (a 34% fall), Crete (29%), Zante (26%), and Turkey (24%).

On average the price of a family holiday across the top 20 destinations for UK holidaymakers has fallen by 13.5%, representing a typical saving of £232.

Trevor Davis, Director of Retail Distribution at The Co-operative Travel says. “People are booking their holidays much later this year and as a result we’re seeing the emergence of a very strong late bookings market for family groups. This means that there are thousands of family holidays being sold at much-reduced prices.

“For example, last year the average price paid for a family holiday to Paphos was £641 per person. This year, it is possible to find deals as low as £407.50 per person.

“The same is true across all the major holiday destinations, representing significant savings for families who are limited to going abroad during the school summer break.”

Recent figures estimated that families traditionally pay 38% more on average to holiday during school breaks**.

Largest % change in average booking price for top 20 destinations

Destination % price drop per booking
1. Paphos 34%
2. Crete 29%
3. Zante 26%
4. Turkey 24%
5. Fuerteventura 21%
6. Costa Dorada 20%
7. Sharm el Sheikh 19%
8. Corfu 18%
9. Algarve 17%
10. Ibiza 13%