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Summer holiday abroad crosses N2 million mark -How battered naira is keeping families from yearly ritual

UNBELIEVABLY high exchange rates and unfavourable economic climate have excluded many more middle class families from enjoying the annual ritual of holidaying abroad this summer.

The cost of enjoying a four-week holiday by a family of four has crossed the N2 million mark!

From ticket to Europe or United States of America, accommodation, food, shopping and treats to transportation, father, mother and two children need a minimum of N2.5 million!

For flight ticket, the least a family of four can spend is $6,000, at $1,500 per head (and that’s all of N1.2 million at an exchange rate of N200 to the dollar).

In fact, many airlines charge far higher than $1,500 per head, except you have done your booking earlier in the year.

Whether your destination is Europe or United States of America, a budget of $1,500 is ambitious.

For accommodation, you will be lucky to get an apartment for less than £500 in the city of London for a week (for four people).

Our search of nice apartments in the city centre shows that you need well above £700 for a one-bedroom flat.  And if your choice is a hotel, you will fork out more!

Major hotels with 3-star rating will set you back by far more than £2,500 for four weeks.

When it comes to food abroad, twice a day looks good. And at £5 per day per head, you are stretching your luck.

A family of four spending £20 per day on two meals will set you back by £560 a month.

If you cook your own meals, you can save a chunk of the £560 bill, but you will be on basic diet without treats.

It means you have to know the local markets, and avoid supermarkets like Waitrose and Sainsbury.

Going abroad without stocking on beautiful apparels and accessories appear purposeless.  So, if you budget £250 per head, you are very prudent.

And at £1,000 for the family, you should break into a dance.

You can buy underwear, clothes, shoes and other accessories to shine for many months.  And even a few items for school.

What’s the point of going abroad without treating yourself to major tourist centres and amazing experiences?

So, if you budget £50 for treats, including restaurants and tours for a week, you are savvy.  These treats will come to £200 for the duration of your holiday.

In London, you have the tour bus, Madame Tussauds, Tate Modern, London Eye, Buckingham Palace…

Getting around the city is easy, but cost money.  You will need £480 for a month for travel passes.

If you choose to hire a car for a month, you will spend more.

For the annual ritual popular  among the upper and middle classes, the budget actually settles at over N4 million!

Whether your destination is Paris (France), Madrid (Spain), Lisbon (Portugal) or Dublin (Ireland) and Vienna (Austria), you can’t get it cheaper.

If the United States of America fascinates you, you will be spending far more…


– Plan far ahead

– Book your tickets far earlier in the year

– Book your accommodation at discount sites, and well ahead of time

– Target period where every major store or your favourite stores are ‘doing sales’

– Live with a friend or family member

– Cook your own food

– Reduce your travel period


Ticket                                    $1,500 x 4 = $6,000 (N1.2m)

Accommodation £500 a week = £2,000 (N620,000)

Food                                      £560 (N173,600)

Shopping                              £1,000 (N310,000)

Treats                                    £200 (N62,000)

Transportation    £480 (N148,800)

TOTAL N2,514,400


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