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Date Published: 28/09/2022

ARCHIVED - Costa cost hike: British tourists warned about rising prices in Spain

ARCHIVED ARTICLE

Spain is quickly losing its reputation as a cheap holiday destination for UK tourists

<span style='color:#780948'>ARCHIVED</span> - Costa cost hike: British tourists warned about rising prices in Spain

Now that the colder weather is setting in, many Britons will be turning their minds to Spain for a mid-autumn break, especially with the October holidays approaching. The UK economy has taken a nasty nosedive in the past few weeks, so a cheap and cheerful get-away to the Costas probably sounds like just the ticket.

Brits might get more – or less, as the case may be – than they bargained for this year, however, as recent data from foreign exchange experts eurochange show that the average holiday will cost at least £505 (562 euros) more than it did last year, and that’s not even including the flights, which have also gone up by around 45%.

Everything from accommodation and car hire to eating out and currency exchange has skyrocketed, and you can forget about grabbing a few cheap bits from the supermarket, as the price of 95% of everyday products in Spain has also increased.

Car hire

At the height of the coronavirus pandemic, many of the big car rental companies in Spain were forced to sell off part of their fleets just to keep afloat. This, coupled with a huge surge in demand in 2022, means that car hire has seen the largest annual increase of all the areas analysed.

With a 136% price hike compared to last year, Brits can expend to spend around £609 (678 euros) a week on car rental.

Hotels and eating out

UK visitors will have to shell out an average of £504 (561 euros) for a week’s stay in a hotel. That’s a 36% rise on last year. Eating out just got a whole lot more expensive too. Most hospitality businesses in Spain have upped their prices to recoup pandemic losses and mitigate rising inflation, but this means that tourists won’t get as much value for money.

The always popular Menu del Día has gone up across the board and in general, restaurant meals have climbed from £17.50 in 2021 to £19 today – a 9% increase over the last year.

Exchange rates

It’s big news at the moment, as Britons looking to swap their pounds for euros will feel the pinch: exchange rates have dropped from a mid-market rate of 1.165 in September 2021 to 1.143 in September 2022.

How to cut costs

Managing Director of eurochange, Charles Stewart, has some sage advice for Brits looking to pinch a few pennies on their trip to Spain:

“Preparation is key when it comes to cutting costs, as there are many package holidays and budget flights available if you research. Holidaymakers can also save by avoiding hiring a car, as it’s a large expense that’s more than doubled in the last year.

“If possible, make sure to take more money away with you than you previously would have done to make up for the drop in rates.”

Image: Pixabay

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