Bulgaria is this summer's cheapest family holiday destination - and Crete the most expensive

Bulgaria is the most affordable holiday destination for families this summer and Crete is the most expensive, according to research.



Of twelve popular holiday destinations, the eastern European destination came out as the best value for money, with the average family needing £110.17 to spend on essential holiday items.



The Post Office’s Beach Barometer estimates the total spend of a family abroad by measuring the price of 10 items, including, sun cream, insect repellent, sun lounger hire, soft drinks, ice creams, days and meals out.

Cheapest spot: Bulgaria is the cheapest destination based on research by the Post Office.

Spain’s Costa del Sol was the next cheapest destination at £121.11. In contrast, Crete came out as the most expensive destination with spending on the same items at £189.15.



While a Coca-Cola in the Portuguese Algarve was just 86p it was as much as £2.16 in France, while a chocolate-covered ice cream that was only £1.29 in Portugal was £2.76 in France.



A three-course family meal including drinks was £42.99 in Portugal but as much as £73.28 in Crete.

Andrew Brown, head of Post Office travel money, said: 'Our Beach Barometer shows just how much beach extras can add to the family holiday budget.

'Giving in to kids' demands is understandable but it can wipe out the extra spending money that holidaymakers will have in their pockets this year, thanks to sterling's gains against the euro and other European currencies.'



Two-thirds of people said that buying ice creams was the biggest drain on the holiday purse, while 44 per cent said that their children pestered them for fizzy drinks.



While 39 per cent gave into demands for buckets, spades and beach lilos and 38 per cent visited water parks while on holiday.



(Apologies for the picture quality on the tables - click to enlarge)



Table: The Post Office Beach Barometer

Table: The Post Office Beach Barometer

Families will also find that their holiday money goes 11.5 per cent further in Europe this summer, according to the Post Office.

This is due to the strength of the sterling against the euro, with rates at their highest so far this year in July.



Analysts have pointed the finger at the recent Eurozone crisis as a catalyst for the gains the pound has made against other currencies in the past few months.



Continued uncertainty about the Spanish banks' bailout package and expectations of further interest rate cuts by the European Central Bank are putting pressure on the euro.



'Sterling is the best valued non-euro currency,' said Kit Juckes, currency strategist at Societe Generale, forecasting the euro to drop to 75p by mid-August.



Island: Heraklion harbour in Crete - the destination was named as one of the most expensive for families this summer.

Post Office research shows that the pound has made gains against 24 of 30 leading holiday currencies over the past year.



Compared to a year ago, the pound is down by 0.7 per cent against the dollar, 1 per cent against the Barbados dollar, 1.1 per cent against the Vietnamese dong, 1.8 per cent against the UAE dirham and 4.1 per cent against the Kenyan shilling.



And it’s not just holiday hotspots where you can get more bang for your buck.



Last week research from Moneycorp showed that whilst the pound has strengthened by nearly 10 per cent versus the euro since this time last year, it has gained 21.4 per cent on the Hungarian forint.



That equates to additional £107 on £500-worth of holiday money.



The research also showed that other eastern European nations have seen their currency depreciate against sterling by more than the euro.

