Now is the time to grab a bargain holiday to Mallorca. | David Arquimbau Sintes

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On the one hand Mallorca is still proving to be the most searched for destination in the UK and the latest market data continues to place Mallorca as one of the top destinations for British holiday makers this summer.

However, all of the main tour operators and some of the airlines have slashed their prices on holidays for a range of destinations this month and next which suggests that not all of the searches and turning into bookings.

Some tour operators are offering all inclusive hotel prices from as low as 55 pounds per night in Mallorca, slashing the best part of 150 pounds off the original price.

Demand for staycations in the UK remains strong but the travel industry is keen to highlight that it is cheaper to travel overseas, especially to short haul destinations like Mallorca and the Balearics as a whole.

And looking ahead to September, price have been cut to as slow as 23 pounds per night per person. One thing that has to be taken into account is that many people travelling this summer are enjoying holidays postponed for the past two years due to the pandemic which is one the reasons they are rolling out incentives to drive the last minute market.

And Mallorca has to take into account the strong competition coming from Turkey where prices have been cut, along with taxes on food and drink as part of a government-led scheme to revive the tourist industry. And, UK tour operators have increased their programmes for Turkey for this year and next.