Christmas market visitors can enjoy a steaming mug of mulled wine for less than £1 this winter, according to a new analysis of prices across Europe. Foreign exchange specialists eurochange studied drink costs at 55 festive markets to compile their Mulled Wine Index, identifying the best value destinations for 2026.
The research found that eight locations serve a glass for under £2, with the cheapest charging just 82p—nine times less than what festive-goers pay in the UK capital. Prices at British markets can reach up to £7.40 a cup.
Top Bargain Destinations
The findings revealed that some unexpected spots in Central and Eastern Europe topped the list as the most affordable. The 15th cheapest is Graz Christmas Markets in Austria, where a glass costs €3.50 (£3.00), followed by Warsaw Old Town Christmas Market in Poland at 15 zł (£2.95).
Liège's Village of Christmas in Belgium and Vilnius Christmas Market in Lithuania both charge €3.00 (£2.57) per cup. The cheapest option, at just 82p, was not named in the report's top 15 list.
Why European Markets Offer Better Value
Rachael Ryder, travel expert at eurochange, said: "Mulled wine is such a special part of Christmas, even the smell makes us instantly feel festive! Christmas markets in the UK are notoriously pricey for food and drink, so for Brits seeking a better value Christmas getaway, taking a trip to a European festive market can be a great idea."
She added: "We want to help holiday-goers find great value whenever they go abroad, which is why we researched where Brits can find some of the cheapest mulled wine in Europe this Christmas. Our research has found some European Christmas markets serve mulled wine for as little as 82p - what better way to get into the Christmas spirit?"
More than five million British holidaymakers are expected to travel to Europe this year for winter markets, which feature snow-dusted chalets, ice rinks, and handcrafted gifts. The analysis highlights significant savings for those willing to travel abroad for their festive fix.
