Bulgaria's Sunny Beach and Turkey's Marmaris have been named the joint cheapest European holiday destinations for British tourists, according to the annual family holiday report from Post Office Travel Money. The survey, conducted with Tui, estimated a cost of around £86 for 12 common holiday expenses including meals, drinks, sun cream, and beach items.
The report found that prices in Marmaris have doubled compared with summer 2019, but the collapse of the Turkish lira has mitigated the impact. Despite this, Britons can expect to pay nearly 11% more than three years ago in Marmaris, compared with an 8% rise in Sunny Beach. Nevertheless, costs at both resorts were over 20% lower than in the cheapest eurozone destination, Portugal's Algarve, which came in at £108.
Other affordable options include Funchal in Madeira (£125), the Costa del Sol in Spain (£127), and Corfu in Greece (£133). At the other end of the scale, Ibiza was the most expensive at £186, followed by Puglia, Italy, at £185. However, prices in Ibiza and Puglia have fallen since 2019 by 4.9% and 5.2% respectively. Crete saw the largest price increase, rising 37.7% to £161.
The report highlighted that prices have risen in three-quarters of the 16 destinations surveyed, driven by higher resort charges and the pound's depreciation against the euro. Sterling currently trades at €1.17, down from a 2022 high of €1.21 in April. Nick Boden, head of Post Office Travel Money, said: 'Sterling's recent fall against European currencies... means that keeping a tight rein on resort spending will be crucial for families this summer.'
Boden also noted significant price variations between resorts in the same country, such as Corfu being 17% cheaper than Crete. The survey found that 59% of families plan trips abroad this year, but 76% exceeded their budget on their last holiday by an average of £243, spending a total of £887 against a planned £644.
