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Wallet-watchers will get more for their money in Turkey and Bulgaria – while Eurozone resorts costa a lot more

Press Release   •   Apr 14, 2018 00:01 BST

12thannual Post Office Travel Money Holiday Costs Barometerreveals the

best value European hotspots (www.postoffice.co.uk/holidaycosts)

Sunny Beach, Bulgaria is best value for a bargain break for the fifth year running

Sterling’s surge against Turkish lira results in a 20 per cent price plunge in Marmaris

Algarve is cheapest in the Eurozone and 44 per cent cheaper than Sorrento, the most expensive of 18 beach resorts surveyed

To shave £s off holiday costs: swap resorts in Spain, Portugal, Greece and Croatia

Holidaymakers looking for the best value beach resort in Europe are likely to find that their pounds will stretch further outside the Eurozone, according to research for thisyear’s Post Office Travel Money Holiday CostsBarometer. In a comparison of costs in 18 top European destinations1, the Post Office found that beach resorts in Bulgaria and Turkey are far cheaper than in their lowest-priced Eurozone competitors, Portugal’s Algarve and the Costa del Sol.

For the fifth year running, Sunny Beach in Bulgaria is best value for a bargain break, even though prices have risen 16 per cent since last spring. At just over £43, the Post Office barometer basket of tourist staples – lunch and evening meals, drinks, suncream and insect repellent – is less than half the price in two-thirds of the other destinations surveyed. ‘Cheap as chips’ meals are the main reason for the Black Sea resort’s dominant position. Two people can have an evening meal with wine for around £26 and lunch for less than £9.

Runner-up Marmaris (£57) cannot match Sunny Beach on price but the plummeting Turkish lira – down 25 per cent year-on-year against sterling – means holidaymakers visiting Turkey will get much more for their money. To add to that, local prices remain low because of competition between restaurants and bars, keen to attract tourists back after a lean couple of years. As a result, barometer prices in Marmaris are 20 per cent lower than a year ago.

Andrew Brown of Post Office Travel Money, which accounts for one-in four of all UKforeigncurrency transactions,said: “This may well be the year when it will pay to plan a trip outside the Eurozone. There have already been reports 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 holidaymakers 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 Sunny Beach and Marmaris are significantly 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 to find a resort that fits your budget.”

A 17 per cent rise in prices in the Algarve means visitors can expect to pay around £68 for the barometer items this year – 20 per cent more than in Marmaris and 57 per cent more than in Sunny Beach. Even so, the Portuguese hotspot pipped Spain’s Costa del Sol (£72) for the title of cheapest Eurozone resort. Post Office Travel Money also found prices in both these areas to be significantly lower than in the Eastern Med’s Eurozone resorts.

Best value among the Eastern Med’s Eurozone resorts is Crete (£81), fifth-placed in the survey. Crete is one of only two Eurozone destinations – from 13 surveyed – where prices have dropped over the past year, albeit by just 1.7 per cent. By comparison, prices in Limassol, Cyprus (£117), the most expensive Eastern Med resort, are 43 per cent higher.

The biggest Eurozone price fall is in the South of France where barometer costs in Nice (£114) are now 2.4 per cent cheaper than a year ago. In contrast to this, prices in Sorrento (£123) have risen 3.5 per cent, making it the most expensive resort surveyed and 44 per cent pricier than the Algarve.

Outside the Eurozone Post Office Travel Money found that prices have dropped by 10 per cent in the Croatian resort of Zadar (£98). Further north, prices are over eight per cent higher in Porec (£106). Croatia is just one of four countries where Post Office Travel Money researchers found dramatic price variations between resorts.

In Greece, UK tourists can expect to pay 12 per cent more in Corfu (£91) and 23 per cent more in Halkidiki (£100) than in Crete (£81). In Cyprus the difference between Paphos (£88) and Limassol (£117) is even greater at 32 per cent. The same applies in Portugal where holidaymakers will find prices in the Algarve (£68) almost a third lower than on the Lisbon coast (£101).

The biggest price gap is in Spain, where visitors to Majorca (£108) can expect to pay 51 per cent more for the barometer items than in the Costa del Sol (£72). Although prices have dropped by 10 per cent since last year, Ibiza (£118), remains the most expensive of four Spanish destinations surveyed, costing 65 per cent more than in the Costa del Sol.

Andrew Brownsaid:“Always take enough spending money to cover the costs you are likely to incur. The average amount that holidaymakers told us they spend while abroad is over £500 so it makes sense to take at least that amount with you. If you do change £500 or more into holiday currency in our branches or online you will benefit from an improved exchange rate. Careful budgeting before travel should help you avoid running out of cash and having to use an overseas ATM or pay on plastic, both of which will incur extra charges.

“If you do want to pay on plastic, make it a travel money card that does not incur transaction charges when you use it abroad. With the multi-currency Post Office Travel Money Card, you can convert any leftover cash into another currency, ready for your next holiday.”

The Post Office is the UK’s leading provider of foreign currency, offering euro on demand at over 10,000 branches. Euros can also be ordered online at postoffice.co.uk for same day ‘click and collect’ at almost 3,000 branches as well as for home delivery or next day collection at any of the 11,600 Post Office branches. Bulgarian lev, Croatia kuna and Turkish lira are among 30 leading currencies available without pre-ordering at 1,600 larger Post Office Branches and up to80 currencies can be pre-ordered at over 11,600 branches or online at postoffice.co.uk/travelfor next day branch or home delivery.

ENDS

For more information, please contact:

Joanne Leahy Post Office Press Office 07484 051566

Joanne.Leahy@postoffice.co.uk

Christine Ball CBPR 01798 874177 / 07976 285997 cball@cballpr.co.uk

Notes to Editors:

¹ Post Office Holiday Costs Barometer 2018: Prices were supplied by National and Regional Tourist Offices of participating countries, except Bulgaria, where these were provided by Balkan Holidays, Majorca and Costa Blanca, both of which were provided by Travelup. All pricing quoted was also subject to online cross-checks. Prices in the release are rounded up or down to the nearest pound.

About the Post Office

Post Office Limited has an unrivalled national network of over 11,600 branches across the UK, more than all the high street banks combined, and sits at the heart of many communities across the country.

It provides around 170 different services and products spanning financial services including savings, insurance, loans, mortgages and credit cards. Post Office also offers Government services, telephony, foreign currency, travel insurance and mail services.

99.7% of people live within three miles of their nearest Post Office outlet. For many rural communities the Post Office is the only retail outlet. Post Offices remain highly valued and trusted and are the focal point for many communities. For more information, visit www.postoffice.co.uk.