Brits can benefit from bargain basement last minute holiday bookings

Volcanic ash, the global economic downturn and strikes by airline workers in Europe have made some Brits hesitant to book holidays abroad. Also, the relatively warm summer weather in Britain has encouraged many of us to opt for a 'staycation' this summer.

TUI, the owner of Thomson Holidays and First Choice, is struggling to sell their summer package holidays, though they don't like to admit it.

Turkey, Egypt and Florida have remained popular holiday destinations with Brits this summer, but Greece and the Balearic Islands aren't doing so well. They are the best value destinations for Brits making last minute holiday bookings. A seven night package holiday in Menorca with First Choice dropped by £225 yesterday, making the last minute holiday a very affordable £131.

Meanwhile, rival tour operator Thomas Cook is also feeling the pinch. In the three months up to the end of June, Thomas Cook revenue fell by 9%. The volcanic ash cloud had an even greater impact on profits than they first anticipated, and the cost of the disaster is expected to be in the region of £81.9 million.

Many holidaymakers taking the decision to travel abroad this summer can benefit from the situation. Not only are certain last minute holiday prices cheaper, but us Brits can get more euros for our pounds, making holidays in the eurozone even more affordable.

Package holiday prices look set to continue to nose dive. Anyone thinking of booking a last minute holiday might want to leave it as late as possible, especially after the August bank holiday weekend.

No matter how late you book your holiday or how little you want to spend, don't forget to buy adequate travel insurance to cover your trip.

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