"Price crash" to make Algarve holidays cheaper this year

Holiday costs have fallen significantly in Portugal over the past year, according to a new study, meaning Algarve villa breaks will be a more affordable option for Brits this summer.

In its latest Holiday Costs Barometer, Post Office Travel Money revealed that the overall price of a basket of ten popular tourist items in Portugal is 42 per cent lower this year than in 2009.

The same selection of goods - which included a three-course meal, sun cream and a cup of coffee - was also found to be 40 per cent cheaper in Spain.

Portugal and Spain topped the affordability list, while Cyprus and Greece also featured in the top five.

Commenting on the results, Sarah Munro, head of Post Office Travel Money, said: "The good news for UK holidaymakers planning trips to the eurozone is that the Holiday Costs Barometer reveals cost reductions in most of the eurozone destinations but most notably in Portugal and Spain, where the price crash is in the region of 40-42 per cent compared with a year ago."

She went on to say that people taking Algarve villa holidays and other breaks in the eurozone will benefit from cheaper meals, as restaurants "battle for business with mouth-watering meal incentives".

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