The annual Post Office Travel Money Holiday Costs Barometer from the UK suggests bargain hunters go to Bulgaria this summer as the Algarve’s prices have risen 17%.
Britons looking for sun and sea should look outside the eurozone where, due to the weak pound against the euro, their holiday money will stretch further than in the traditional euro hotspots.
Bulgaria and Turkey are far cheaper than Portugal’s Algarve and the Costa del Sol in Spain, with Turkish resorts representing “excellent value for money,” notes the 2018 Holiday Costs Barometer.
Coming in second, Marmaris on the Turkish coast allows Britons more spending power as the plummeting Turkish lira, down 25% against sterling in a year, combines with low prices due to healthy competition between restaurants and bars.
Andrew Brown, from Post Office Travel Money, commented, “This may well be the year when it will pay to plan a trip outside the eurozone.
“There has already been reports (sic) of growing demand for Turkey as low-priced packages attract cash-conscious UK holidaymakers. Now a combination of the Turkish lira’s weakness and low resort prices will make resorts like Marmaris even more attractive for holiday markets on a tight budget.
“The cost of eating out is always a big consideration for holidaymakers and this year we found that meal costs in Bulgaria’s Sunny Beach and Turkey’s Marmaris are significant lower than in any of the Eurozone resorts surveyed.
“On a week’s holiday, the cost of lunch and dinner ranges from £243 in Sunny Beach and £287 in Marmaris to well over twice as much in Sorrento.
“That’s why it will pay to do your homework before booking a resort that fits your budget.”
Last year was a record for Portugal’s tourism sector with its hotel sector taking full advantage of fixed supply and high demand to raise room prices. Whether this has reached the price point at which people look elsewhere, will be seen this summer.
Despite the barometer’s warning that Portugal has become more expensive, the region is still the third least expensive in those countries surveyed:
Where’s the cheapest holiday destination?