Yahoo Finance Turkey cheapest holiday destination, survey finds
Bargain hunters should head to Turkey for their summer holiday this year, according to a survey of resorts in Europe published on Saturday.
The Turkish resort of Marmaris is the cheapest place for holidaymakers out of 15 surveyed – largely because the local currency, the lira, has fallen in value against the pound during the year.
According to the “beach barometer” survey by Post Office Money, buying a bucket and spade will cost just 82p in the resort, an ice-cream 73p and a bottle of beer £1.63.
Marmaris has pushed the Bulgarian resort Sunny Beach from the top slot to second place.
Spain’s Costa del Sol is in third place – the cheapest of the 11 resorts using the euro in surveyed. There are two other Spanish holiday destinations in the survey, both of which are more expensive. While prices have dropped marginally in Ibiza (£213.13), it still 46% higher than in Majorca (£145.74) and over twice as high as in the Costa del Sol (£97.09).
The other cheapest destinations in the top five are both in Greece – Crete and Corfu.
The most expensive destination is Sorrento, Italy, at £230.45 – almost three times more expensive than Turkey’s Marmaris.
The survey helps to highlight the divergence in the cost of a can or bottle of Coke in the 15 regions, from 96p in Sunny Beach Bulgaria to £3.34 in Nice, the French resort which ranks 13th out of 15th in the survey.
Perhaps more controversially, the cost of buying sun cream is included as is an estimate of the cost of a meal for four – three courses for two adults, two children with a bottle of house wine and soft drinks.
Top five cheapest destinations, % change on last year
Turkey Marmaris £79.81 -36%
Bulgaria Sunny Beach £83.99 -6.4%
Spain Costa del Sol £97.09 +5%
Greece Crete £126.53 -1.1%
Greece Corfu £132.04 -24.2%
The researchers for the Post Office surveyed 15 European resorts and found prices had fallen since last July in Turkey, Bulgaria, Cyprus, Greece, the Balearic Islands, the south of France and Italy. However, it does not take into account the cost of getting to the destinations.
“A drop in local prices and a small year-on-year rise in the value of sterling against the euro and other European currencies accounts for the increased spending power for UK holidaymakers,” the Post Office said.
Over five years, though, the cost of holidaying in Majorica has risen 45%, Post Office Money said.
While local price movements have an impact on spending power, exchange rates are also a factor. The EU referendum result in 2016 weakened the pound: in July 2015 the pound was trading at about €1.40 but is now closer to €1.10.
