Spanish holidays are going to Costa packet as fall in Sterling hits sunseekers in the pocket

The price of holidays to Spain is expected to jump by up to 10 per cent next summer thanks to Brexit and security fears in other countries.

The steep rise was blamed by industry giants Thomas Cook in part on the weak pound against the euro since last year’s referendum vote to leave the European Union.

The other big factor has been holidaymakers ­shunning hotspots such as Turkey and Egypt because of concerns about security.

Many are taking breaks in Spain instead, pushing up demand for hotels.

Costa Adeje in Tenerife

Next year’s price rises are on top of increases of six to eight per cent this summer.

Thomas Cook boss Peter Fankhauser said: “Spanish hoteliers are taking a bit of an advantage of increased demand, and prices went up because we have not enough beds for all the demand.

“A five to 10 per cent price increase we’ll have for sure in Spain (next summer).”

Spain and its islands such as Menorca, Ibiza, Lanzarote and Tenerife are Thomas Cook’s biggest single market, accounting for 40 per cent of their business. The firm have taken four million ­travellers there this year.

Holidaymakers have begun to return to Turkey, where bookings this summer were up 20 per cent on 2016 but were still down 30 per cent on 2015.

Thomas Cook said ­bookings to Egypt doubled this summer. With flights to Sharm El Sheikh suspended, families are choosing other Red Sea resorts instead.

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