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Mallorca is now four percent cheaper for British tourists after an increase in value of the pound sterling against the euro. Sterling has been performing well against the European single currency in recent weeks. It has risen by 3.8 percent.

"Sterling's current buoyancy against most leading holiday currencies - including the euro and US dollar - provides a great incentive for Britons considering trips abroad in the coming months," Laura Plunkett, head of travel money at Post Office told Sky News.

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"Most currencies have weakened against the pound in the past year, and many of these are for destinations that traditionally offer the cheapest prices for meals, drinks and other tourist staples."

Mallorca is already looking at a bumper holiday season with tour operators increasing the size of their programme.