Majorca recommended for self-catering holidays

Families planning cheap holidays to Majorca this summer could save money by opting for self-catering accommodation, with the Balearic island identified as the cheapest destination in the eurozone for breaks of this kind.

Post Office Travel Money commissioned research on supermarket costs in a range of popular locations and found that Majorca offers the lowest overall price for a basket of food, drink and other everyday items.

The Algarve, Portugal's leading all inclusive holiday destination, emerged as the second cheapest option, followed by the Costa Blanca in Spain, the Greek island of Corfu and Menorca.

While saving money is one of the most appealing aspects of a self-catering holiday, the survey found that the main motivator for families opting for this type of accommodation is having freedom, flexibility and plenty of time to spend together.

Sarah Munro, head of Post Office Travel Money, said: "Self-catering can be a great way for families to save money on the cost of their holiday while at the same time offering them more flexibility and the freedom to come and go as they please.

"According to our research this is a big consideration for families."

Sticking to a holiday budget appears to be a bigger concern for women than men, with 40 per cent of mums surveyed saying they had been disappointed when previous breaks cost more than expected, compared to only 21 per cent of dads.