According to a study determining the cheapest 40 long—and short-haul destinations in Europe, this year's cheapest holiday destination is the Algarve region of Portugal. Marmaris, Turkey, ranks third on the list.
The results of the Post Office Travel Money survey were announced. The research was based on the prices of tourist products such as food and drink and sunscreen in 40 popular holiday destinations.
According to a report in Turkish media, Portugal's Algarve region surpassed Sunny Beach in Bulgaria, which is generally considered the cheapest holiday destination for summer vacations.
Sharm El-Sheikh in Egypt ranked second, followed by Marmaris in Turkey and Paphos in Greece. Hoi An in Vietnam became the cheapest long-haul destination, followed by Cape Town in South Africa and Mombasa in Kenya. Meanwhile, Tamarindo in Costa Rica became the most expensive, followed by New York and St John's in Antigua.
Holidaymakers continue to consider Spain as the most affordable destination. However, according to the report, Costa del Sol was considered the cheapest destination in the country but ranked as the sixth cheapest destination in Europe.
The report revealed that 90% of the currencies in 30 countries are currently weaker against the pound compared to a year ago, leading to price decreases in most popular destinations worldwide, especially in long-haul holiday destinations and cities.
Effect of the Depreciation of the Turkish Lira
Despite the decline in the Turkish lira, prices in Marmaris restaurants and bars have increased as business owners try to overcome inflation issues.
According to the research, holiday resorts and cities' prices seem to concern holidaymakers planning to travel abroad. Approximately 84% of holidaymakers said that expenses such as food and drink would be one of the most important considerations when choosing a destination.
