- Two-thirds of UK tourists bust their budget overspending by 26 per cent
- Spain and Thailand perceived by holidaymakers as offering the best value
- Britons looking for more bang for their buck should head to Bulgaria
- Dubai received the worst rating on value for money from holidaymakers
Whether it's for essential souvenirs, unexpected day trips or splashing out on a fancy meal under the Tuscan sun, two thirds of British holidaymakers overspend when they are away.
On an average budget of £747 per couple, a new report from the Post Office revealed that holidaymakers spent £195 more than they intended - adding up to a collective overspend of £1.55billion.
The new report also highlighted that Brits rate Spain and Thailand as offering the best value breaks.
Families were found to be tougher judges than individuals on what constitutes good value
While Sunny Beach in Bulgaria (pictured) offers the best value in Europe, holidaymakers who visited did not realise this
Although the Holiday Spending Report from Post Office Travel Money revealed that new 80 per cent of Brits rate safety as the most important factor when choosing a holiday, value for money was still considered important.
Of 2,099 UK adults surveyed, the report found that 79 per cent said the cost of getting to a resort influenced their destination choice and 72 per cent expressed concerns about resort costs, with almost half (47 per cent) citing the value of sterling as crucial in choosing where to holiday.
However despite shrewd financial holiday planning with 78 per cent of travellers setting up a budget for their breaks, only a third of them stuck to it.
Spain was considered good value by a staggering 90 per cent of visitors to the country
Andrew Brown of Post Office Travel Money said: 'With the pound giving UK tourists less bang for their buck, it is surprising to see that overspending is continuing at the levels seen in previous years.
| Destination | % of visitors who rated it good value |
|---|---|
| 1. Spain (mainland) | 90% |
2. Turkey |
89% |
| 3. Canary Islands | 87% |
| 5. Balearic Islands | 86% |
| 5. Thailand | 86% |
| 7. Portugal | 85% |
| 8. Cyprus | 82% |
| 9. Croatia | 80% |
| 9. USA | 80% |
| 11. Bulgaria | 74% |
| 11. Mexico | 74% |
| 13. Caribbean | 72% |
| 14. Italy | 69% |
| 15. France | 62% |
| 16. Dubai | 47% |
'What's more, since the average budget set virtually matches the amount of foreign currency that holidaymakers took with them in cash, this means they incurred charges by changing money at an ATM or paying on plastic to cover their overspending.
'We urge them to consider budget carefully this year to avoid paying through the nose.'
The report singles out Sunny Beach in Bulgaria as Europe's cheapest getaway but the Holiday Costs Barometer illustrates how consumer perceptions of value do not always match the reality.
Spain was considered by 90 per cent of those who had visited it to offer the best value rather than Bulgaria which was only rated as good value by 74 per cent of holidaymakers.
Interestingly, the Balearic Islands scored an 86 per cent positive rating among the 43 per cent of respondents who had visited one of the islands, even though the Post Office found that prices for tourist staples have risen 23 per cent in Majorca, while San Antonio in Ibiza was the most expensive of 20 resorts surveyed.
Holidaymakers visiting Italy and France did not feel that they were getting good value with Italy only rated well by 69 per cent of travellers and France achieving just 62 per cent satisfaction. However, as Sorrento and Nice are both home to some of the most expensive resorts surveyed, perception and reality seemed to be in line with each other.
For travellers heading beyond Europe, Thailand was considered the best value achieving an approval rating of 86 per cent, while the United States was also thought to be good value by 80 per cent of respondents.
Dubai achieved the worst rating in the survey with only 47 per cent of Brits thinking it offered good value
The worst rating went to Dubai with only 47 per cent of Brits who visited the Emirate stating that it represent good value for money.
Families were found to be tougher judges than individuals on what constitutes good value. Only 69 per cent of groups thought Cyprus was good value while 87 per cent of individuals were happy with the destination.
Similarly Croatia was only rated good value by 63 per cent of families compared with 87 per cent of individuals.
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