New research by the Post Office shows that holiday money this summer will stretch the furthest in Budapest. The cost of two night’s accommodation, along with transport, meals and other factors in the Hungarian capital added up to £134.76. The same basket of purchases in New York totalled £541.23, according to the study.
The most expensive city to visit in Europe is Copenhagen in Denmark where the costs came to £440.45. Post Office Travel Money’s Andrew Brown said before booking a city break this summer travellers should check the price of sightseeing, drinks and meals.
Costs in most cities have risen over the past year and travelling abroad becomes more expensive as the value of the pound continues to fall. Brown said that costs varied widely in cities across Europe and those on a tight budget should do some shopping around before choosing where to go on holiday this year.
Money can also be saved by purchasing the right travel insurance. However, going for the cheapest cover available can be an expensive error when it comes to making a claim.
It is also a good idea to change money before leaving home as rates are often higher at the airport or in a foreign destination. Using credit and debit cards can also be a costly option because of additional charges made by the issuer.