Beyonce and Jay-Z have spent £20 million on holidays this year.

The couple - who have an estimated joint worth of £500 million - spare no expense to ensure they have the best time on their trips, and have enjoyed breaks to Florence, Hawaii, Paris, Thailand, and the Caribbean, as well a Mediterranean tour on a superyacht in recent months.

A source said: ''They both have so much money that a £20 million budget for holidays is no big deal.

''When they're away, it's one VIP day out after another. They spend an insane amount of money but say it's more than worth it as they always have the best time.''

The couple's travel alone regularly costs them £1 million per trip as they insist on jetting off in style.

The source explained to LOOK magazine: ''They don't travel by anything but private jet. They have it on standby, with a fully-stocked bar and a cream leather-furnished living room. It can easily cost them £1 million getting to their destination.''

And the pair - who have three-year-old daughter Blue Ivy together - generally spend £5,000 a night to secure villas with their own private beaches, though in Thailand their villa cost £12,5000 a night and in Florence, Italy, they stayed in a £11,000-a-night suite at the Four Seasons Hotel.

The source said: ''They love going to beach destinations but they hate people watching them so they always spend a fortune on ensuring they get an ultra private beach.''