Great news, sunshine lovers – your spending money will go further than ever if you holiday in Algarve, Portugal this year.  The popular Monarch destination has been named best value destination to visit in Europe, according to the Worldwide Holiday Costs Barometer report published by Post Office this week.

Algarve marina

The Post Office barometer monitors the price of eight tourist items in over 40 destinations worldwide – including dinner for two, drinks and suncream, taking exchange rates into account.

It shows an 18 per cent price fall in the Algarve, pushing the destination past Spain’s Costa del Sol to take the top spot as Europe’s cheapest holiday destination.

Fly to Faro and you’ll find a cup of coffee in the Algarve generally costs caffeine lovers the equivalent of a mere 86p, while a bottle of beer at a bar or cafe comes in at just £1.29 and a glass of wine £1.72.

Many of Monarch’s most popular destinations appeared on the list – here they are in the order they appeared:

  • Ever popular Costa del Sol has increased slightly in cost compared to 2013, but prices at this popular sunshine destination still represents great value, with a cup of java at the equivalent of £1.03, a bottle of beer at £1.72 and a glass of wine just £1.51
  • A five-year low for the Turkish lira makes holidays in Marmaris on the Turquoise Coast of Turkey a hot tip for 2014 – holidaymakers here will pay 19 per cent less for tourist items
  • In Paphos, Cyprusgreat value Europe holiday prices will have you spending more time in sunny cafes, where a glass of wine or bottle of beer cost less than £2.50 on average
  • Corfu, Greece offers a cup of coffee at less than £2, and a bottle of beer, glass of wine, or soft drink all around £2.58. A 3-course evening meal for 2 (including bottle of house wine) is a bargain at £23.67
  • In the fascinating  holiday island of Malta, you can expect to pay a teeny 99p for a coffee and only 34p for a 1.5 litre bottle of mineral water
  • In the Kvaner region of Croatia (between the Istrian peninsula and the Littoral mainland) you’ll find coffees for the equivalent of 99p as well as beer, wine and soft drinks for less than £2
  • Prices are less ‘ooh la la’ than you may expect in Nice, France, where a coffee is small change at £1.19, and a 3-course meal for two £38.73
  • Meanwhile, fly to Red Sea resorts in Sharm el Sheikh you’ll also pay less than a pound for coffee. Protective suncream is a very reasonable £4.80 for 200ml SPF 15 at a supermarket
  • Rounding out the list of Monarch destinations for best spending money value is Sorrento, Italy, where all your drinks are less than £2.50 in value

If you’d like to see the results of all 44 destinations in the Post Office survey, please click here.

Does anything on the list surprise you? Give us your thoughts in the comments below.


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