By Claire West

The price of last-minute package holidays are being cut by one third compared with last year, according to a survey by Co-operative Travel. The travel company has found that prices are being cut for Eastern Mediterranean destinations.

As summer holiday season begins in the UK, prices are being cut due to the rise of the 'staycation' — when UK citizens elect to stay at home due to the uncertain economic situation.

Travel organisation Abta said that 440,000 were jetting off from Heathrow airport, 250,000 were departing from Gatwick and 139,000 were flying from Stansted.

The most popular destinations were Florida and Dubai, while short-haul flyers would fly to Turkey, Greece and Spain. The price of holidays to Turkey were down by 24%, compared with 12 months ago. On average, the price of a family holiay has seen a 13.5% fall, accruing to a saving of £232.

The poll by Co-op Travel said that savings applied to last-minute package
deals. It said that holidays to Crete had seen a price drop of 29%, trips to Zante had fallen in price by 26%. Savings were being in eastern Mediterranean resorts, such as Paphos, which is now 34% cheaper than it was in 2009.

Concerns about the UK's economic situation and travel disruption have seen British families holiday at home.

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