Bulgaria is at the top of the annual evaluation conducted by Unicredit Bank Austria, but in Croatia, Spain and Greece you can also get around 30 percent more than in Austria. The strong euro also makes overseas destinations comparatively cheap. “The holiday euro” is based on the purchasing power survey, weighted according to holiday behavior. For 2024, this means that 100 euros in Austria are worth around 20 percent more abroad on average. Bulgaria is particularly noticeable this year, where 100 euros in Austria are worth 181 euros. Cheaper holiday destinations in Eastern and Southeastern Europe include Romania and Poland (see graphic).
Switzerland remains the most expensive destination
Even in classic southern holiday destinations such as Spain, Portugal or Greece, holidays are cheaper than in Austria. The most popular holiday destinations for Austrians are traditionally Italy and Croatia. Holidays in our Croatian neighbours have become a little more expensive due to inflation and the introduction of the Euro, says Stefan Bruckbauer, Chief Economist at UniCredit Bank Austria.Holidays in Hungary and Turkey are still cheaper. While 100 euros in Austria were worth 160 euros in Turkey last year, this year it is only 128 euros. However, Turkey is still among the top ten cheapest countries in terms of the “holiday euro” and Hungary also remains very popular. Switzerland has been one of the most expensive destinations for holidaymakers from Austria for years. Inflation is significantly lower than in Austria, but the rise of the Swiss franc against the euro is having a negative impact here.
Holidaymakers in Ireland and the USA can also expect a similar price level to that in Austria, says economist Bruckbauer. Despite price increases that were in some cases higher than those in Austria, the strong euro has made overseas holidays around eleven percent cheaper this year on average. In the medium term, it could become a problem for domestic tourism if people get more for their money on holiday elsewhere.
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