A new report on holiday money from the Post Office reveals that resort and city prices are down in 10 of the 12 most popular holiday destinations around Europe.
The very best value is to be found in Turkey. The Turkish lira has weakened against sterling and UK tourists will now get almost 40 per cent more lira for their pounds than they would have done in January 2013. Changing £500 into lira will net holidaymakers more than £142 to spend on holidays in Turkey.
Furthermore, a meal for two in Marmaris now costs about £20, making it 37 per cent cheaper than a year ago.
The Costa del Sol has seen some price rises. The cost of a meal for two is up by 16 per cent year on year, bringing the cost of the basket of goods* to almost £39. Spain is the only European country to register a significant price rise.
The cheapest destination for price-minded Brits is still the Algarve in Portugal. The holiday basket costs a little over £35, 22 per cent less than in 2013. Over the past five years, prices in the Algarve have plunged by 44 per cent.
Other popular destinations where prices have fallen include Bulgaria (Sunny Beach, £38), Greece (Corfu, £48) and Cyprus (Paphos, £46) while the cost of meals and drinks in city break favourites Prague and Budapest make the Czech Republic (£36) and Hungary (£41) cheaper this year as well. Sterling is currently 11.6 per cent stronger against the Czech koruna, which will make Prague even better value for city break tourists than in 2013.
Elsewhere in Europe the UK pound stretches further than a year ago – except in Iceland. If seeing the Northern Lights is on your see-before-you-die list, Norway is a cheaper option than Iceland. Sterling is worth 17 per cent more against the Norwegian krone compared with more than 8 per cent less against the Icelandic krona.
* The basket of goods consists of the following: a three-course meal for two with wine, a cup of coffee, a bottle of local beer, a can of Coca-Cola, a glass of wine, a bottle of still water, sunblock and a packet of cigarettes.
(Featured image: The Preiser Project)