More than three quarters (77%) of foreign holidays are cheaper this summer than in 2012, new research claims.
The study by online agent On the Beach compared like-for-like rates for seven-night holidays for two adults in June across a number popular destinations.
When comparing average prices for 2013 with those from last year, the results show “massive savings” for holidaymakers this year.
Despite a 2.7% rise in inflation and increasing fuel prices, many holidays to summer sun destinations are up to 25% cheaper this year, with Madeira offering the best value this summer.
A week’s three-star holiday on a bed and breakfast basis for two on the Portuguese island cost £799 last year compared with £599 in 2013.
Cyprus too shows a drop in prices with holidaymakers saving up to 20% on last year, with Bulgaria also proving better value, offering holidays up to 15% cheaper than last summer.
Tenerife is also showing a significant drop in prices with many hotels offering all-inclusive holidays up to 14% cheaper than in 2012.
Other places offering cheaper prices this year include Sharm El Sheikh, down 13% on last year, and Greece which is 12% cheaper.
On the Beach’s chief marketing officer Alistair Daly said: “When most day-to-day costs increase on a yearly basis, it’s no doubt a breath of fresh air for Brits when well-deserved holidays are actually more affordable than ever.
“Holidays to Cyprus and Bulgaria are already outselling last year and with so many holidays cheaper, we expect a bumper year for travel this year.”
Top five summer savings in 2013
1. Madeira -25%
2. Cyprus -20%
3. Bulgaria -15%
4. Tenerife -14%
5. Sharm El Sheikh -13%
6. Greece -12%
7. Majorca -8%
8. Turkey -7%
9. Tunisia -7%
10. Costa Blanca -6%