Countless days of sunshine, beautiful beaches, world-class golf courses and... the best prices in Europe for Brits, according to the latest Worldwide Holiday Costs Barometer 2024 conducted by Post Office Travel Money.

The Algarve was the only European destination to appear in the top 5 best-value holiday destinations in the world, overtaking Turkey and Bulgaria which have seen prices rise since 2023.

Not only did prices register a 1.2% drop compared to last year, but the Portuguese region was also the cheapest in the world for coffee and – good news for many – wine, with a glass costing £1.79.

The Post Office's annual barometer found that prices for meals, drinks and other tourist items have dropped in more than 60% of the resorts and cities surveyed since last year. However, it's the strength of the sterling that will make many destinations cheaper for visiting Brits.

“The barometer results make it clear how important it will be this year to consider how sterling’s strength has impacted individual destinations,” said Laura Plunkett from Post Office Travel Money.

Long-haul destinations topped this year's barometer leaderboard, with the Vietnamese city of Hoi An taking the number 1 spot for the first time. Cape Town (South Africa) and Mombasa (Kenya) completed the top 3.

“Holidaymakers intending to travel long haul can expect to get more for their money because the pound has gained ground in most destinations. By comparison, sterling’s gain against the euro has been more modest so it will pay to compare eurozone destinations to see which offer the cheapest prices. Portugal and Cyprus look the best choices for bargain hunters.”

The Algarve provides a quality lifestyle at the fraction of the cost of the UK, especially once you get to know all the local secrets. Speak to the team at Algarve Home Sales about making the Algarve your part-time or permanent home.