Here's The Best Value Place To Go On Holiday This Year

Where to travel without a budget-breaking bill

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If you're taking your mind off January by making holiday plans for the year ahead, this latest news has come at the right time.

Portugal has been named the cheapest holiday destination of 2017 in the Post Office's Holiday Costs Barometer, The Telegraph reports. The annual review, which considers the average price that Brits will have to pay for eight essential holiday items, put the country's popular Algarve region in the number one spot for the second year.

Vilamoura, Algarve
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It was followed by Bulgaria, which was ranked the second cheapest destination, then Spain, Turkey and the Czech Republic.

In the Algarve, the average cost of a meal for two came in at £18.37, in comparison to £23.15 in Bulgaria's Sunny Beach resort and £26.11 on Spain's Costa del Sol.

While holidays are expected to get more expensive thanks to Brexit, Andrew Brown of Post Office's travel money has highlighted that the pound is stronger against 60% of the Post Office's 40 best-selling currencies than it was a year ago.

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"Much of Europe still offers good value, with prices on the ground falling in half of the European destinations we surveyed," Brown said.

"Further afield Tokyo and Cancun are good bets for bargain hunters but don't discount Cape Town or Bali. If the rand (South Africa) and rupiah (Indonesia) fall in value, low costs on the ground could makes these great choices, too."

Ready for holiday? Here's the cheapest destinations list in full:

1. Portugal

2. Bulgaria

3. Spain

4. Turkey

5. Czech Republic

6. Cyprus

7. Hungary

8. Japan

9. Malta

10. Greece

11. South Africa

12. Mexico

13. Indonesia

14. Croatia

15. Thailand

16. Kenya

17. Peru

18. Italy

19. USA

20. Malaysia