Sterling has fallen against the Euro in recent months, but holidaymakers will find that their hard-earned cash goes a little further than they might have thought. Lower prices in popular resorts are boosting spending power this year.
The new Post Office Holiday Costs Barometer finds that prices have dropped by 20 per cent in Spain and 15 per cent in the Algarve.
Portugal – Albufeira in the Algarve to be precise – is the best-value destination (cheaper meals and drinks) according to the Post Office Barometer, narrowly beating Spain.
However, the Post Office Holiday Costs basket of goods (10 items – a three-course meal, a cup of coffee, a bottle of beer, a glass of wine, a soft drink, bottled water, suncream, insect repellent, cigarettes and a newspaper) costs only 16p less in the Algarve (£46.34) than in Torremolinos on the Costa del Sol (£46.50) and just 80p less than in Javea, on the Costa Blanca (£47.14).
Resort prices in the Costas have been falling over the past two years. This year they’re down by 19 per cent in the Costa del Sol and by 20 per cent in the Costa Blanca. These price falls helped Spain to move within just a few pence of Portugal.
Outside the Eurozone, Sunny Beach, Bulgaria (£47.32) is in fourth place and Majorca (£55.46) is in fifth. Prices there have fallen by 8.8 per cent in a year.
Although Sterling is down against the US dollar (by 4.1 per cent) prices in Orlando, Florida, are lower this year. The basket of 10 items cost 21.2 per cent less than last year at £58.16.
Sharm el Sheikh has long been an affordable holiday destination, but prices there are almost 20 per cent lower than last year at £62.83.
The price of the 10 items in resorts in Corfu, Greece come to £64.45, about 6 per cent less than in 2012.
Turkey is another good-value destination and the barometer basket in Marmaris costs £58.84 while Bodrum, another popular spot, is much more expensive. The same basket of items costs £90.15.
Visitors to Menorca will pay much more than those holidaying in Majorca – £88.22 compared to £55.46.
When it comes to expensive destinations, Italy provided two of the costliest European resorts – Tuscany at £94.92 and Sorrento at £101.79.
Here in the UK, the same basket of goods in two of the most popular seaside resorts costs £65.96 in Blackpool and £78.01 in Bournemouth.
What’s in the Post Office Holiday Costs basket?
- A three-course meal
- A cup of coffee
- A bottle of beer
- A glass of wine
- A soft drink
- Bottled water
- Insect repellent
- A newspaper
The 10 cheapest destinations
- Albufeira, Algarve, Portugal – £46.34
- Torremolinos, Costa del Sol, Spain – £46.50
- Javea, Costa Blanca, Spain – £47.14
- Sunny Beach, Bulgaria – £47.32
- Palma Nova, Majorca – £55.46
- Orlando, Florida, USA – £58.16
- Marmaris, Turkey – £58.84
- Sharm el Sheikh, Egypt – £62.83
- Corfu, Greece – £64.45
- Paphos, Cyprus – £65.13
The 10 most expensive destinations
- Blackpool, UK – £65.96
- Split, Croatia -£70.84
- Sliema, Malta -£73.35
- Bournemouth, UK -£78.01
- Nice, France -£80.93
- Mahon, Menorca -£88.22
- Bodrum, Turkey -£90.15
- Tuscany, Italy -£94.92
- Sorrento, Italy -£101.79
- Jumeirah, Dubai -£103.23
(Featured image by ReservasdeCoches.com)