The ski season is almost upon us, and many people will be excitedly planning their trip to the slopes. But have you thought about the financial aspect? Unfortunately, the cost of skiing is on the rise, which means you'll have to be extra savvy if you want to get a good value holiday…
Figures from Tesco Bank show that the price of skiing has risen dramatically this year, almost without exception, driven by fluctuating exchange rates and the declining value of sterling. Some popular ski destinations have been particularly impacted, such as Bulgaria: despite it often being thought of as a cost-effective option, the Ski Index shows that it's increased in price by 65.6% since last year.
The USA and Canada have also seen notable price increases of 28% and 25.1% respectively, while Andorra is at the lower end of the scale with a price rise of 11% and prices in ever-popular Switzerland have risen by 15%. Bucking the trend if you're willing to travel further afield is Argentina, where prices have actually fallen by 11%.
Overall, prices across the Ski Index have risen by almost a quarter, which means it could cost a whole lot more to get the same holiday as a year ago. But that doesn't seem to be putting people off – indeed, more than a third of people surveyed are still considering a ski holiday this year, and 42% of those would choose Switzerland as their skiing destination of choice.
If you're one of the many who are still planning that ski trip abroad, there are things you can do to make your money go further. The first is to do your research to determine the best value destination (and resort) available, based on your preferences. Tesco's Ski Index could be a good place to start, but make sure to delve a little deeper into the individual resorts so you know you'll be getting a holiday that suits your needs.
Then you'll need to think about how you'll pay for it all. While using your savings will always be the best bet, you may want to consider a 0% purchase credit card if you haven't built up a suitable savings pot, as it would give you the chance to pay off your holiday before interest kicks in. Make sure to be on the lookout for a travel credit card, too: a regular credit or debit card will typically charge extra fees when you use them abroad, whereas a specialist travel version won't.
And don't forget about travel insurance. It may be one of the things you consider overlooking in your quest to bring your holiday bill down to size, but this should never be an option. Travel insurance is vital for any trip, but even more so on a ski holiday, where the equipment taken will be particularly pricey and the risks involved a bit higher than normal. You'll probably need to seek specialist cover for this kind of trip – use our travel insurance quote tool to get started – but it'll be a small price to pay for complete peace of mind. Then all you have to do is look forward to the slopes!
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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