Indeed, as an example the Daily Mail reports that the average British family spends the equivalent of two month’s salary on their summer holiday each year.
Any way you can get better value for your money therefore can represent some considerable savings.
It’s tempting when shopping for holidays to focus purely on the overall costs of flights and hotels. But focusing on just these limited elements means that you might not necessarily be getting the deal you’re looking for.
After all, while comparing package deals may make shopping for bargains easier this method fails to take into account the ancillary costs of going abroad.
For example what about the costs of eating out, buying drinks or purchasing some sun cream while you’re away?
In a fascinating study the Post Office recently released their 2015 “Holiday Money Barometer” to illustrate which countries really offer the best value to tourists. And as it turns out, thanks to the current strength of the Pound against many foreign currencies there are bargains aplenty for frugal British tourists.
The new Post Office survey aims to compare the price of eight standard tourist purchases in 46 countries around the world to see where your money will go furthest – and reveals some real surprises for those planning to jet off abroad in the near future.
So where will your money go furthest while you’re on holiday?
In terms of European destinations travellers will find that the Czech Republic currently offers the very best-value for your holiday spending money.
Here a bottle of beer will cost you just over a pound, while a bottle of mineral water will cost an average of just 43p. Astonishingly this is even cheaper than last year, where the “basket” of goods considered is now £35.29 cheaper than in 2014.
Coming in second in terms of European destinations is Portugal, where some items can be even cheaper than in the Czech Republic. A cup of coffee in the Algarve will set you back an average of just 57 pence with a 1.5 litre bottle of mineral water costing just 20 pence.
Third place goes to Bulgaria, where a bottle of sun cream costs less than £4 and lager costs just 64 pence per bottle.
Try comparing these figures to the most expensive destination from the survey; Singapore. Here a cup of coffee averages £3.13 while a bottle of beer will set you back an eye-watering £6.51. A 3 course meal for two in Singapore will set you back roughly five times the price of an equivalent meal in Portugal or Bulgaria.
The same basket of holiday goods has increased in price by almost £150 since the same time last year.
Other expensive areas topping the “worst value” list include Dubai, New Zealand, Oman and Australia.
Bali – coming in position five overall – represents the best-value long haul destination. South Africa just makes it into the top ten.