Latvia’s capital, Riga, topped the list of bargain destinations for a European shopping trip in Post Office Travel Money’s Christmas markets barometer for the fourth time in a row.
Zagreb in Croatia came in second, while Krakow in Poland rounded out the top three.
The post office compared costs in 12 European cities, with Vienna in Austria found to be the most expensive city in the survey.
Lille in France was identified as the best value among the surveyed cities in Western Europe.
The Post Office looked at expenses such as return flights, two nights in three-star accommodation, airport transfers, two evening meals with wine, coffee, celebratory drinks and snacks.
Riga’s top spot was largely due to the low cost of accommodation and cheap flights, the post office said.
The findings were released when Post Office research showed that more than two-fifths (42%) of Britons believed the rising cost of living would have some impact on their holiday plans.
Nick Boden, Head of Post Office Travel Money, said: “Short breaks are a practical way to holiday abroad at a lower cost and Christmas markets are a real attraction at this time of year.
“While prices have increased across the board since we conducted the last survey, the magnitude of those increases vary considerably from city to city.
“This means budget-conscious Brits doing their holiday home work could potentially save hundreds of pounds by choosing a city like Riga where costs are low.”
Here are the typical costs of a two-night visit to Christmas markets, according to Post Office research:
1. Riga, Latvia, £507.19
2. Zagreb, Croatia, £541.19
3. Krakow, Poland, £648.83
4. Tallinn, Estonia, £683.73
5. Lille, France, £724.82
6. Prague, Czech Republic, £732.55
7. Stockholm, Sweden, £740.60
8. Budapest, Hungary, £744.73
9. Salzburg, Austria, £775.43
10. Berlin, Germany, £797.10
11. Copenhagen, Denmark, £881.07
12. Vienna, Austria, £920.92