Portugal has Europe’s best value holiday destination for Britons
The Algarve has seen a 1.2 per cent drop in prices in the past 12 months compared with a 9.3 per cent rise in the cost of typical holiday items in Costa del Sol, Spain.
As such, UK travellers can expect to pay a quarter (26.7 per cent) less for the eight tourist items included in Post Office Travel Money’s Holiday Costs Barometer, such as drinks and meals, if they opt for the Portuguese region over its Spanish counterpart. The eight items came to a total of £59.69 in the Algarve compared to £81.45 in the Costa del Sol.
Spain is consistently the most popular destination among UK residents, based on ONS data, but Portugal is in fifth place.
The Algarve, the most popular Portuguese destination among UK travellers, was also cheaper than Marmaris in Turkey and Sunny Beach, Bulgaria, which are usually the most cost-effective short-haul options in the annual barometer.
The cost survey features eight items that people tend to buy on holiday, including a three-course meal, coffee, cola, wine, beer, water, sunscreen and insect repellent.
For the 51 per cent of UK travellers surveyed for Post Office Travel Money’s Holiday Money Report 2024 said they will travel abroad this year, sterling’s strength means they will get more cash for their pound.
Sterling is stronger than a year ago against 90 per cent of Post Office Travel Money’s best-selling currencies, including the Euro (up 3.8 per cent), Bulgarian lev (3.9 per cent) and the Turkish lira (80.7 per cent).
Yet Turkey’s value barometer ranking fell due to hikes in everyday holiday costs with prices in Marmaris’s restaurants and bars having more than doubled year-on-year as owners tackle inflationary price rises.
Sunny Beach, Bulgaria, meanwhile, which has long been the continent’s bargain resort, has seen prices rise by 6.4 per cent.
Affordable Algarve
First Choice has a seven-day stay two two at Vale da Telha Nature Boutique Hotel on a bed and breakfast basis, including return flights from Gatwick, for £459pp in the first week of June.
Families travelling during the school holidays will find October half term offers better value than the summer break. EasyJet Holidays has a seven-night, self-catering stay at Choromar Apartments in Albufeira for £1,194 for two adults and two children, including return flights from Gatwick.
Those who choose to travel independently can find return flights to Faro from £70 return in the coming months.
Where else is cheap?
Paphos in Cyprus was the final European destination among the 10 cheapest (£73.32 for the eight tourist items), with a 6.8 per cent fall in costs compared to 2023.
Further afield, Hoi An in Vietnam was named the best-value destination overall with the total cost of eight tourist items coming to £51.18. Sales of the Vietnamese dong also rose 62 per cent year-on-year.
The Egyptian pound is the fastest growing for currency sales with a year-on-year growth of 656 per cent.
Sterling has gained 71.4 per cent against the Egyptian pound year-on-year after the African country’s central bank devalued its currency by 40 per cent.
There is further value to be found in the Red Sea resort of Sharm el-Sheikh, which took sixth place in the ranking of best value destinations with the tourist items coming to a total of £61.37.
