**New research has shown that a staycation in the UK can be more costly by as much as 25% when compared to the cost of a beach holiday overseas. **
According to research by M&S, it can be more expensive to stay in the UK for a holiday than to travel abroad.
The findings from the survey showed that 26% of Britons will remain in the UK during the summer this year as they believe it will be less costly.
However, M&S research compared the cost of a week's holiday in popular locations abroad to the cost of a holiday in the UK and the findings suggest otherwise.
Alicante in Spain is the cheapest beach holiday location, with a £927 value for a week's holiday, followed by Marseille in France for £1,059.
Out of top ten locations, the findings indicate that ‘holidaying' in London is the eighth most expensive choice.
Spain, France, Crete, Turkey, Portugal, Croatia and Thailand all proved to be more cost effective than the UK for a holiday this summer.
The UK found itself in eighth place due to expensive accommodation costs, as well as the need for more spending money due to the high cost of activities and daily essentials.
More than half (54%) of Brits said they are staying in the UK this summer, with 26% of those doing so because they think it will be more affordable than a holiday abroad.
28% of people are going abroad for a holiday this year, with 25% visiting Europe and 5% travelling to other continents.
Nearly a fifth (18%) decided to holiday abroad because they found their holiday very affordable, while 17% admitted they are going abroad for guaranteed sunshine.
Brits holidaying abroad this year may be planning to hire a car. In order to benefit from discount car hire, holidaymakers are encouraged to book sooner rather than later to take advantage of cost effective holiday car rental.