Families 'will find Spain an affordable location'

Thursday May 15th , 2008

Families who are heading abroad during the forthcoming school holidays could find good value for money in Spain, experts have stated.

According to Abbey Credit Cards, the cost of accommodation in Spain is considerably lower than in Cyprus and Portugal.

This could be an important factor for holidaymakers, many of whom have faced financial constraints as a result of the credit crunch.

Furthermore, the cost of living in Spain will be higher for Britons this summer as the pound has slumped to a record low against the single European currency.

However, prices across the eurozone vary significantly and Spain is now regarded as the most affordable destination.

Callum Gibson, head of Abbey Credit Cards, said: "For many families money is tighter than ever this year, so every penny counts."

This comes soon after TUI Travel revealed that ongoing economic problems are not putting consumers off visiting countries such as Spain.