Last-minute budget holiday in Portugal - Prices have fallen by more than 40%!
Anyone thinking of a last-minute budget holiday in the sun should head to Portugal, according to a survey quoted in the Guardian.co.uk which claims prices have fallen by more than 40% over the past 12 months.
"In its latest holiday costs barometer, Post Office Travel Money reports prices have plunged in a number of eurozone destinations. It says the biggest fall in prices has come in the Algarve area where the cost of eating out and of typical holiday purchases fell 42% in the last year. That means Portugal has ousted Bulgaria as the cheapest destination on its list. The total cost of the basket of goods bought in Portugal has fallen from £66 last year to £38, making it extremely good value for British holidaymakers.
The basket of items includes a three-course meal with wine in a local restaurant, suncream, insect repellent, a bottle of local beer, a can of Coca-Cola, a cup of coffee, a pack of Marlboro Lights cigarettes and a UK tabloid newspaper.
In neighbouring Spain, where there are similar budget deficit concerns for the government, the cost of holiday spending has fallen 40% as restaurants and shops cut prices to attract hard-to-come-by customers.
The Post Office named the US as the most expensive place to eat out and buy the listed items, which cost almost £104. It also coined Italy as a "costly break". It was the only eurozone destination surveyed where prices did not fall last year, and as a result is named the most expensive European destination.
Sarah Munro, the Post Office's head of travel money, says: "The biggest discounts have been on the cost of eating out, as eurozone restaurants battle for business with meal incentives."
So this report says it all, if you want your money to go further, come to the Algarve! And for some of the best prices currently on the Interent for Algarve holidays, visit the Low Cost Holidays Algarve Summer Holiday Sale!