New research has revealed the huge increase in airport parking facing holidaymakers this year – with some people having to pay almost 50% more than last year.
Personal insolvency provider, Creditfix, has analysed parking costs at all UK airports to reveal an average price of £185 for two weeks’ parking – a rise of 9%.
Edinburgh was found to have the biggest increase after costs for a two-week stay rose from £89.49 to £132.13 – representing a 48% rise.
Just 49 miles away, Glasgow saw the smallest increase at just 1% from £152.46 to £154.29.
Additional costs for parking will only take more money from people’s holiday budget, at the same time as families need to spend an additional 19% on package holidays, said the company in a statement.
Recent research found that during Summer 2024, holidaymakers can expect to pay an average of £955 for just one week, half-board, in Spain.
Creditfix has broken down the average cost of popular airport parking fees, comparing a two-week stay in June 2024 to an average of the same duration in June 2023.
Personal finance experts from Creditfix are warning that these extra costs could give family finances an unexpected shock.
Maxine McCreadie, personal finance expert at Creditfix, said:
“Summer holidays are something many families look forward to, but for parents, they can mean extra financial pressure. Creditfix research shows that parents already face 8% more debt than the national average.
“On top of flights and hotels, airport parking can be a significant additional cost. If you’re lucky enough to have a holiday planned this summer, it’s important to be prepared for these additional expenses.
“Many households are already feeling the pinch, and the urge to spend on summer trips can push some into unsustainable debt.
“With the cost of living going up, it’s more important than ever to take a good, honest look at your budget and see what you can truly afford.”
Maxine’s top tips for avoiding summer holiday debt this year include:
Start saving early
Most banks have savings goal calculators to help customers set realistic targets. Even small, regular contributions can add up to a nice holiday fund over time.
Be realistic about finances
Accumulating unaffordable debt can have serious consequences, so it’s important to be honest about financial situations and consider the long-term impact.
Plan ahead
Book early to snag the best deals and discount codes. The first few weeks of summer break are often the busiest and priciest. Travel later in the season or during off-peak times to save money.
Think about different transport options
Consider a no-fly cruise, or try taking the train, bus, or even sharing a ride. Coaches can be very budget-friendly, and while train fares have risen, they might still be cheaper than paying for parking and gas. Plus, many trains and buses let two kids under five travel for free.
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