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The eurozone is affordable once again. Even the Algarve is back in the top 10 reasonably priced destinations, as Miles Brignall reports
Forget what you've heard about countries in the eurozone being stratospherically expensive holiday destinations – the latest survey into comparative costs has found Spain and Portugal are as affordable as ever.
The combination of dramatically falling local prices and a 10% rally in the strength of the pound means you may no longer have to endure two wet weeks in Skegness. A spot of Mediterranean sun won't break the bank.
The annual holiday costs survey, published today by Post Office Travel Services, names Bulgaria as the cheapest – overtaking last year's top trio of Thailand, South Africa and Egypt in which prices have all risen steeply.
More interesting to most will be that prices have plummeted in Portugal's Algarve, putting it back into the top 10 for the first time in two years.
The basket of goods in the region costs just 39p more than in Spain, the cheapest eurozone destination. The Post Office, which adds up the cost of a basket of goods typically bought by holidaymakers – including drinks and meals – also found price drops in Greece and Italy.
Sarah Munro, head of its travel services, said: "The eurozone has taken a bashing but our survey suggests outlets in many resorts are taking dramatic steps to encourage tourists. Despite the weak pound, this means that UK tourists who shop carefully could find they get more than expected."
She says France remains the most expensive – costing 16.7% more than Spain. And one of the newest euro entrants, Cyprus, is up there with France. By contrast Malta which, like Cyprus, joined the eurozone in January 2008 has held its prices and is third cheapest.
"The cost of eating out have shown some of the biggest rises – in Thailand, a 68.5% jump, in the US the cost rose by almost 49%, and even in Turkey, one of our best-buys, they have gone up by over a third. Even where prices have risen – notably Thailand and Turkey – remain great value. The survey suggests that holidaymakers who put affordability above all other factors should still head to Bulgaria. At around £42, the basket of goods in its Sunny Beach resort was two and a half times cheaper than Antigua* *– the most expensive (£108).
The US has suffered the biggest change as a result of currency shift. In Christmas 2007, shopping tourists were heading stateside to snap up bargains. Now it has become one of the most expensive destinations surveyed.
m.brignall@guardian.co.uk
Price of a basket of goods including drinks, a meal for two, sun cream and other holiday items
Bulgaria: £42.23
Thailand: £43.92
S Africa: £46.13
Kenya: £57.66
Turkey: £64.31
Croatia: £64.76
Malaysia: £64.82
Spain: £67.08
Portugal: £67.47
Malta: £67.97
Greece: £68.93
Egypt: £68.99
Jamaica: £74.60
Italy: £77.05
Cyprus: £78.01
France: £78.30
US: £83.67
Antigua: £108.70
Source: Post Office, exchange rates taken 28 April 2009
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