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 cheapest of 16 popular European resorts, according to Post Office Travel Money’s Annual Family Vacation Report.
The report’s Beach Barometer, produced with travel agency Tui, estimated a cost of around £86 for 12 common holiday expenses, including a family meal, drinks, sunscreen, insect repellent and beach items ranging from buckets and shovels to lilos, ice cream and paddle boat rides at both destinations.
The report suggests that local prices have doubled in Marmaris compared to summer 2019, but the collapse of the Turkish lira since then has helped lessen the impact.
However, Brits can expect to pay almost 11% more than three years ago in Marmaris, compared to 8% in Sunny Beach.
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Despite the hikes, costs in both destinations were more than 20 per cent lower than the cheapest Eurozone resort, Portugal’s Algarve, which came in at £108 for the 12 items.
Funchal in Madeira was the second cheapest at £125, followed by the Costa del Sol Spainat £127 and Corfu, Greece, at £133.
The most expensive was Ibiza, costing around £186 on the barometer, followed by Puglia, Italy, at around £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 around £161.
The report shows prices rose in three-quarters of the 16 European destinations due to higher resort fees for food and drink and a falling value of the pound sterling. The average increase among those who increased was 13.3%.
British tourists are experiencing a fall in the value of the pound, which is currently trading at €1.17 after hitting a 2022 high of €1.21 in April.
Nick Boden, head of Post Office Travel Money, which accounts for a quarter of UK foreign exchange transactions, said: “The recent fall in the pound sterling against European currencies and the continued uncertainty about its performance in the Coming weeks mean that keeping tight control on resort spending will be crucial for families this summer to avoid breaking the vacation budget.
“We saw wide price variations across the 16 destinations surveyed, particularly across 13 Eurozone resorts. This makes it all the more important that holidaymakers do their homework and budget carefully to cover resort costs. holidays they visit.
“We also found that prices can vary significantly 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 families (59%) are planning trips abroad this year, but more than three-quarters (76%) of them have cut their budget by almost 38% during their last holiday, spending an extra £243 on the average budget of £644 they had set themselves.
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