Cape Town in South Africa has been named the best bargain location for holidaymakers looking to squeeze the most out of their money.
In recent months sterling has been gaining ground against the South African rand in and is now worth 15.7% more than last March.
Holidaymakers visiting Cape Town can expect to receive nearly £68 more in rand on a £500 currency transaction.
To add to the sweet deal, there are plenty of bargains to be had in South Africa, according to a Post Office report.
Tourists can buy a three-course evening meal for two with wine, bottle of beer, glass of wine, can of coke, large bottle of water and a cup of coffee for £51 - 8% cheaper than last year.
Cape Town also has the cheapest beer of any of the highlighted destinations, at £1.61 a bottle.
The southwest coast port town has plenty of things to keep you busy beyond cheap beers, not least the imposing Table Mountain.
Slowly rotating cable cars climb to the mountain’s flat top, from which there are sweeping views of the city, the busy harbour and boats heading for Robben Island, which is now a living prison museum.
Marmaris in Turkey is another great spot for bargain hunters, as the lira continues to tumble in value and is worth 19.2% less year-on-year against sterling, giving UK visitors an extra £80 in lira on a £500 transaction.
The same bundle of items now costs the equivalent of £57 in the Turkish resort.
One of the biggest falls in currency power has been seen in Egypt, where the collapse of the Egyptian pound means visitors to Red Sea resorts like Sharm el-Sheikh will get 53.4% more cash to spend – the equivalent of over £174 more on a £500 exchange into Egyptian currency compared with last March.
However, the price of items in the holiday hotspot means the eight item basket costs £73 on average, highlighting how currency exchange isn't the only thing to consider when opting for a budget break.
The demand for a trip away amid the cost of living crisis is clear, with 41% of people surveyed by the Post Office saying they will dip into their savings to afford a holiday abroad.
More than half will do without home improvements or spending on cars in order to afford a break.
Although the global squeeze caused by factors such as the pandemic and war in Ukraine has pushed prices up in 80% of holiday resorts and cities, prices have fallen year-on-year in six of the 10 lowest-price destinations.
Resort costs have also fallen by 3.4% to around £59 in Mombasa, Kenya, while Sri Lanka has seen a 2.2% fall in prices.
10 best value holiday spots for Brits this summer
- Cape Town, South Africa
- Marmaris, Turkey
- Sunny Beach, Bulgaria
- Mombasa, Kenya
- Algarve, Portugal
- Hanoi, Vietnam
- Kuta, Bali
- Tokyo, Japan
- Colombo, Sri Lanka
- Sharm el-Sheikh, Egypt
You can find out more about the research and destinations on postoffice.co.uk/travel-money.
Where's the first place you would travel to if money was no object? Let us know in the comments below.
