Paphos, Cyprus secured the tenth spot among the best value destinations globally for UK holidaymakers, according to the 2024 Worldwide Holiday Costs Barometer report by Post Office Travel Money. This report, now in its 18th year, highlights that 90% of the top-selling currencies are presently weaker against the sterling compared to last year, resulting in price reductions across many popular destinations, especially in long-haul resorts and cities.
The study compared prices in 40 destinations worldwide, focusing on items like meals, drinks, and other essentials commonly purchased by British tourists while abroad. Cyprus emerged as the fourth European destination in the top 10 for best value, with Paphos specifically taking the tenth spot due to a significant 6.8% drop in costs. This decrease, amounting to £73.32, marked the most substantial price reduction in Europe after Budapest, Hungary.
While Cyprus ascended to the tenth position this year, Portugal stands as the only European destination in the top five, as Turkey and Bulgaria experienced declines, as per the report.
Laura Plunkett from Post Office Travel Money noted that holidaymakers planning long-haul trips can anticipate better value due to the strengthening of the pound in most destinations. Comparatively, the pound's increase against the euro has been more moderate, prompting travellers to consider eurozone destinations carefully to find the best prices. Portugal and Cyprus are highlighted as prime choices for bargain hunters.
The survey considered eight items, such as meals, beverages, sun cream, and insect repellent, typically purchased by UK tourists. In Paphos, the total cost for these items converted to Sterling was £73.32.
Research for the Post Office Worldwide Holiday Costs Barometer indicates that prices for various tourist items have declined in over 60% of the surveyed resorts and cities since the previous year. However, it's the strength of the sterling rather than local prices that will impact the affordability of destinations for British visitors.
The survey also revealed that over half of Britons plan to travel abroad this year, with 60% already having made bookings. Destinations were surveyed in collaboration with national and local tourist boards, and the prices were cross-checked by Post Office researchers.