Self-catering holidays can really make a positive difference in costs for those holidaymakers travelling abroad.
A recent survey by Post Office Travel Money has revealed that by choosing the Algarve as a holiday destination, over various other European countries such as Cyprus, can cut spending costs by more than half.
The research found that the Algarve is the second cheapest “best place” for anyone looking for a cheap self-catering holiday in Europe.
Looking at the cost of a shopping basket, including 20 supermarket-bought essential household items that a family is most likely to purchase while on holiday, for a one-week stay for a family of four, the study found that the total cost of these items in the Algarve came to £57.78; just £0.09 more expensive than the cheapest destination, Mallorca, where the basket cost £57.67.
Other popular destinations in Europe were found to be much more costly, such as Limassol in Cyprus, where the same basket cost £104.29.
The survey also showed that cheese in Portugal was less than half the price of Cyprus, and those holidaymakers that buy pizza in Italy pay twice as much as they would in the Algarve.
Post Office Travel Money head Andrew Brown said: “The variations we found in supermarket prices mean that families will be well-advised to check prices before booking.
“Although self-catering can be a great way for families to save money, they should choose their destination carefully. Mallorca and Portugal are great value options for tourists but Greece is looking more expensive,” he concluded.
For the past few years, the Algarve has been in the top few cheapest quality self-catering destinations on the survey and has also been found to be one of the cheapest places to dine out while on holiday.
Here is how other shopping baskets in destinations across Europe ranked following Mallorca and the Algarve: Costa Blanca, Spain – £65.31, Menorca, Spain (£66.71), Gozo, Malta (£70.12), Lanzarote, Spain (£72.20), Brighton, England (£89.08), Tuscany, Italy (£98.09), Crete, Greece (£99.18) and Corfu, Greece (£100.31).
With the economic crisis affecting many European families, the Algarve now positions itself as a top candidate for families looking for an enjoyable holiday on a budget.
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