Bulgaria and Turkey are likely to be among the cheapest holiday destinations, according to a survey.
Sunny Beach in Bulgaria and Marmaris in Turkey are the joint cheapest of 16 popular European resorts, according to Post Office Travel Money’s annual family holiday report.
The report’s beach barometer, produced with the travel company Tui, estimated a cost of about £86 for 12 common holiday expenses including a family meal, drinks, sun cream, insect repellant and beach items ranging from buckets and spades to lilos, ice-creams and pedalo rides at the two destinations.
The report suggests local prices have doubled in Marmaris compared with summer 2019 but the collapse of the Turkish lira since then has helped reduce the impact.
However, Britons can expect to pay almost 11% more than three years ago in Marmaris, compared with 8% at Sunny Beach.
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Despite the rises, costs at the two destinations were more than 20% lower than in the cheapest eurozone resort, Portugal’s Algarve, which came in at £108 for the 12 items.
Funchal in Madeira was next cheapest at £125, followed by the Costa del Sol Spain, at £127 and Corfu, Greece, at £133.
The most expensive was Ibiza, with a cost of roughly £186 on the barometer, followed by Puglia, Italy, at about £185.
However, prices have fallen in Ibiza and Puglia since 2019, by 4.9% and 5.2% respectively.
The biggest price increase was in Crete with a 37.7% rise in prices, now costing about £161.
The report shows prices have risen in three-quarters of the 16 European destinations as a result of higher resort charges for meals and drinks and sterling’s fall in value. The average rise across those with increases was 13.3%.
British tourists are experiencing a tumble in the value of the pound, currently trading at €1.17 after reaching a 2022 high of €1.21 in April.
Nick Boden, the head of Post Office Travel Money, which accounts for a quarter of UK foreign exchange transactions, said: “Sterling’s recent fall against European currencies and ongoing uncertainty about how it will perform in the coming weeks means that keeping a tight rein on resort spending will be crucial for families this summer to avoid busting the holiday budget.
“We found big price variations in the 16 destinations surveyed, particularly across 13 eurozone resorts. This makes it doubly important for holidaymakers to do their homework and budget carefully to cover costs in the holiday resort they are visiting.
“We also found that prices can vary dramatically between resorts in the same country. In Greece, for example, barometer costs were 17% lower in Corfu than in Crete.”
The report also revealed that almost three in five (59%) families are planning trips abroad this year but more than three-quarters (76%) of them bust their budget by almost 38% on their last holiday, spending £243 extra on the average budget of £644 they had set.
