The Algarve is second best holiday value destination
Swings in the global exchange markets and local price changes have made Bali the cheapest holiday destination in the entire world with the Algarve being the first runner up thus making it the best value in Europe.
In terms of Brits, this means that the strengthening pound helps budgets stretch further in the majority of resorts and cities.
This means that holiday costs for Britons were down in 70% of the 44 destinations, with prices falling by up to 30%.
The typical basked of holiday goods costs 31.48 pounds in Bali, which makes it the cheapest by far, especially when you compare it to the most expensive destinations that was surveyed, New Zealand, where the same basket costs 115.06 pounds.
The items included in the ‘basket’ are things like an evening meal for two, a cup of coffee and sun cream.
Despite the fact that the pound was slightly weaker against the Euro, the prices in the Algarve still fell, but interestingly enough neighboring Spain was the only country which recorded a significant price increase, with meal costs rising 22% on the Costa del Sol, which pushed Spain to sixth place with a 39.14 pound basket. This situation is rather peculiar considering the numerous budget problems plaguing Portugal in general, however since the Algarve survives exclusively thanks to tourism, the decrease in prices might be due to that.
One thing that anyone reading this should take away is that checking the exchange rates for all the destinations that you’re considering traveling to beforehand should be an important factor in your decision making process. So in case you’re torn between one destination or another, then how far your currency can go in the place you’re visiting might just be the tie breaker.
Other popular destinations this year will most likely include South Africa, Burma and Vietnam.
