Travellers from Austria will enjoy the most affordable holidays in Eastern Europe and classic Mediterranean holiday destinations, according to calculations by Statistik Austria on the price levels of tourism products and services.

The calculations considered the purchasing power of people in Austria abroad for May 2024. 

“Inflation has reduced the holiday budgets of many people, but the most popular foreign destinations in summer, Italy and Croatia, still have a slightly lower price level than Austria”, Statistik Austria director Tobias Thomas said in a press release.

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He added: “The cheapest holiday destinations are Turkey and Bulgaria, where holidaymakers from Austria get almost twice as much for their money as in their own country.

“In Iceland, on the other hand, they have to dig deepest into their pockets: Tourist products and services, including overnight stays and restaurant visits, cost on average 51 percent more there than in Austria”.

Eastern Europe and the Mediterranean are the cheapest destinations

According to Statistik Austria, the purchasing power of €100 earned in Austria is significantly higher in Eastern Europe and the Mediterranean. In Bulgaria, it’s €187, in Romania, it’s €161, and in Hungary, it’s €149. For Mediterranean destinations, Turkey offers the best value at €198, followed by Portugal (€132), Greece (€126), Croatia (€124), Spain (€124), Cyprus (€115), and Italy (€109). 

Switzerland (€68) and countries in the north of Europe, such as Iceland (€66), Denmark (€76), and Norway (€76), continue to be the most expensive destinations by far. 

Most of the changes compared to the previous year were very small, except for Turkey and Poland. The recent strength of the zloty against the euro led to a 5 percent decline in purchasing power to €130 euros in Poland. 

In Turkey, a significant devaluation of the Turkish lira contrasts with even higher inflation, resulting in a 4 percent decline in the purchasing power of tourists, although it remains at a high level. 

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Overseas destinations

Differing developments in the euro exchange rates are causing changes in both directions for overseas destinations. 

For travellers to the United States, the equivalent value of €96 (May 2023: €95) in goods and services remains constant. Holidaymakers in Mexico are experiencing a loss of purchasing power (−7  percent; euro equivalent now €120 compared to €129 in the previous year) due to a stronger Mexican peso.

In Japan, on the other hand, low inflation coupled with a weak Japanese yen resulted in an increase of 14 percent to €129 (May 2023: €113). 

Holidays in Australia are still expensive, with €100 in Austria buying goods and services worth €82 (previous year: €83). In the UK, prices are close to Austrian ones, with €100 in Austria buying goods and services worth €102 there.