Travellers going abroad this summer face an increase in the cost of food and drink in eleven out of thirteen destinations, and the report, released today, reveals that one of the destinations where prices have risen the most is in Majorca.
The largest rise is in Palmanova, where the cost to UK holidaymakers of items such as a three-course meal, a glass of wine and a cup of coffee has gone up by 51% since 2015. Visitors to Nice are facing the second highest increase (30%), followed by Ibiza and Paphos in Cyprus, which have both gone up by 23%.
The pound has plummeted more than 9% against the euro since the referendum, falling from 1.31 euros to 1.19, while also reaching a 31-year low against the US dollar.
The only destinations featured in the report where the cost of food and drink has fallen for UK travellers this year are the Costa Blanca in Spain (-10%) and Sunny Beach in Bulgaria (-1%). But the study noted that while most resort prices are up on 2015 - when sterling was at a seven-year high - they are still as much as 10% lower compared with 2014.
Andrew Brown, of Post Office Travel Money, says: "It’s all about putting today’s exchange rates into context. Sterling may have fallen recently but when you compare its value with every other year since 2011 except 2015, holidaymakers can be reassured that the cash in their pockets will cover their costs. Bars and restaurants in several of the resorts we surveyed have cut their prices to attract tourists."
This is the increase in the cost of food and drink to UK holidaymakers at popular resorts compared with 2015, according to Post Office Travel Money:
1. Palma Nova: 51.4%
2. Nice: 29.6%
3. Ibiza: 23.4%
4. Paphos, Cyprus: 23.0%
5. Sorrento, Italy: 19.5%
6. Sliema, Malta: 19.3%
7. Costa del Sol: 19.2%
8. Corfu: 14.7%
9. Algarve: 10.6%
10. Crete: 10.1%
11. Porec, Croatia: 5.6%
12. Sunny Beach: -1.2%
13. Costa Blanca: -10.3%.
8 comments
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Mike. The "pig-ignorant mindless morons" keep Palma Nova busy and a very popular, even as it's always been the most expensive resort in Spain. Lesson 1 in business, - never take your customers for granted, - something that our government would do well to learn. Palma Nova has evolved for the class of tourist that was fished for, - if it aint broke ...
But it is full of pig-ignorant mindless morons, so that's okay then?
Wolfgang, that's a matter of opinion of course. Certainly one of its more endearing aspects is that its not full of arrogant squareheads.
Palma Nova is a $#it hole at any price point. Its the Clacton of Mallorca.
Mallorca, and Palma Nova, (I wish they would spell the damn name properly, some idiot in Calvia decided to mess with it fifteen years ago, it's two separate words of course), has always been more expensive that mainland Spain, and there are several excellent reasons for that. But I'm looking at a menu from a restaurant on Son Maties beach, and it's the same prices as three years ago. So this is yet another Daily Bulls**t article that should have been researched before going to print. Get a grip Ed.
I was in Palmanova last month and I thought the place was over-priced and over-rated compared to other Calvia resorts. No wonder the place dies at midnight.
I have been going to Palmanova for about 15years now, I think with the recent price increases on food and drink, also over the years I have noticed the prices of the hotel jump to a much higher price, I think I will be looking for a different destination next year,
How sad that the weaker pound is taking the blame for those exorbitant price increases here. Nothing to do with that - the pound remains much stronger than in previous years. It's just the usual 'rip off the tourists' policy, making Mallorca the most expensive place to holiday in the whole of Spain. And more increases for next year. Solution - reduce those prices now before it is too late and the tourists go elsewhere !