Europe will be hard to beat for holiday value in the year ahead according to the ninth Post Office Travel Money Holiday Money Report. With the euro and other European currencies looking increasingly fragile against sterling, the annual report suggests that exchange rates are likely to prove game-changers when it comes to holiday choice in the year ahead.
Not only will UK tourists have more cash to spend everywhere in Europe (except Turkey) compared with a year ago¹, but lower prices in European cities and resorts have helped them fill eight of the top 10 best value places in the report’s Worldwide Holiday Costs Barometer². The cost of eight tourist staples including meals and drinks has fallen in two-thirds of the European countries surveyed – most dramatically by over 19 per cent in Crete (£41.74), which is seventh placed of 46 destinations.
Last year’s best value destination Bali has lost its title to the Czech capital Prague (£35.29), which registered the survey’s lowest price for a three-course evening meal for two with wine (£21). Although Bali remains the best value long haul resort, a 21 per cent increase in its barometer basket and the increasing power of the pound against European currencies explains why the Indonesian island (£38.09), has been overtaken and fallen to fifth position.
In a close run race, Portugal’s Algarve (£36.04) has retained its runner up place for the second consecutive year and therefore remains Europe’s best value beach resort. Prices are now over a third lower than five years ago. However, barometer falls of over five per cent in both Sunny Beach, Bulgaria (£36.14) and Spain’s Costa del Sol (£36.80) mean these UK favourites cost only a few pence more.
The biggest barometer increase in Europe has been in Turkey, where a 13 per cent rise in costs in Marmaris has largely reversed the price falls reported a year ago. As a result Turkey has dropped to 10th in the table and been overtaken by Eastern Med rival Cyprus, making its first ever top 10 appearance on the back of a six per cent fall in barometer costs in Paphos.
By Post Office Media http://corporate.postoffice.co.uk/media#/pressreleases/sterling-s-strength-makes-european-resorts-and-cities-2015-s-best-value-holiday-hotspots-1105552