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Mark Bower

Mark founded MoneyMaxim in 2008, with the aim of delivering an impartial and independent service. Mark is a regular money saving expert in the press and writes regular news and articles for the MoneyMaxim news pages sharing his views on banking, personal insurance and the utilities (gas, electricity, mobile and home phones, broadband and pay TV) market with customers.

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Don't ‘holiday in London'Brits urged

Going on holiday abroad in popular resorts over the next two months is going to be considerably cheaper than staying in the capital as prices have soared.

Brits throughout the UK who are planning to attend the Olympic Games this summer can expect to pay three times as much for holiday rental when compared to other parts of the country and Europe.

Research conducted last month suggested that during the Olympic Games a total of 73% more Brits than normal would be visiting the capital.

A recent survey has shown that the average Olympic fan is likely to fork out approximately £711 per bedroom for a one-week holiday rental throughout July and August.

When compared to other parts of the UK, the £711 figure is considerably larger.

For one bedroom and a week's duration, a room can be rented for £217 in Yorkshire, £299 per room in the Scottish Highlands, £237 in North Wales and £242 in Cumbria.

More expensive accommodation in the UK outside of London can be found in Dorset (£389) and Edinburgh (£370).

As London prices are especially high at present, it can be cheaper for holidaymakers to travel abroad than stay in the UK.

The research highlighted that accommodation in popular resorts abroad can work out much cheaper over the next two months when compared to London and other parts of the UK.

The cheapest location is the Dalmatian Coast in Croatia at £264 per room. Andalucía in Spain follows Croatia at £274, while a room in Tenerife will cost, on average, £281.

Laurel Greatix, a travel expert, said: "Holiday rentals are always a great option.

"Cost-conscious travellers – especially those in groups – should look to destinations like Yorkshire and the Scottish Highlands in the UK, and Croatia and Andalucia in Europe, to find great properties without breaking the bank.”

Cost-conscious travellers should look into travel insurance with medical conditions to make sure they are protected and not forced into extortionate medical fees should anybody fall ill whilst on holiday abroad.