The average price of a week with full food and board in Majorca, Spain is up 21%, Tenerife has risen more than 22%, and Crete in Greece is now 25% more expensive than last year.

Prices for other popular destinations such as Portugal, Cyprus, and Morocco have also increased.

To save money on holidays, travelers can choose a cheaper location, choose all-inclusive deals, book outside of school holidays, and travel mid-week.

Prices are likely to remain high due to increased demand and limited supply.

The cost of travel has increased this year, with the average rate per night going up by nearly 10% and the cost of travel insurance also up by around 10%.

However, the cost of car hire has decreased, with rates in Ireland dropping from £203 in August last year to £48 this August.

Many couples are struggling to afford their dream honeymoon, with one couple postponing their trip until November or December to save money.

They are considering switching to a destination like Dubai, where the average all-inclusive package price has decreased.