Yahoo Finance 15 Cheapest European Countries to Visit in 2024
This article looks at the 15 cheapest European countries to visit in 2024. If you wish to skip our detailed analysis of Tourism in Europe and ways to budget your vacation, you may skip ahead to 5 Cheapest European Countries to Visit in 2024.
Tourism in Europe
Europe is by far the most popular tourist destination among all continents. According to UNWTO, in 2023, 54% of the world's international tourist arrivals were in Europe, with the southern/Mediterranean region being the most visited destination. Europe is extremely appealing for tourists due to its friendly visa policies, a diverse range of destinations, and the fact that it is considered safer than other global destinations.
Like most of the world, tourism in Europe has still not managed to recover to pre-pandemic volumes. In 2023, Europe had 700 million tourist arrivals across the continent, which was 94% of the arrivals witnessed in 2019. This is despite the fact that many southern European and Mediterranean destinations have surpassed pre-COVID levels of tourism. The European Travel Commission reports that countries such as Serbia, Portugal, and Montenegro all hosted 10% more tourists in 2023 than they had in 2019. In comparison, 65% of destinations in Europe are still falling short of pre-pandemic volumes. The most sluggish recovery has been witnessed in the Baltic States of Estonia, Latvia, and Lithuania, each of which has failed to attain even 75% of pre-COVID tourist arrivals. This stark disparity in the recovery of tourism across the continent poses a challenge. Despite the enormous volume of tourists that fly over to Europe each year, many of its most exquisite locations continue to be dejected in favor of hotspots such as the beaches of Ibiza, the bustling streets of Paris, or the canals of Venice. Owing to such a rapid inflow of tourists into only a handful of destinations, the sustainability of tourism in Europe falls under threat. Recently, more and more vacationers are becoming critical of tourist hotspots, criticizing them for being “tourist traps” and are instead looking to venture towards less crowded destinations. Another factor that unsettles tourists is the rate of inflation witnessed in post-pandemic tourism. According to Allianz Research, the daily rate for a hotel room (global median) jumped to $212 in the first quarter of 2023, up from $156 in Q1 2022 and $129 in Q1 2021. Moreover, a recent survey by Travel Weekly showed that 87% of European travelers are taking measures to reduce costs in their vacations. This includes opting for cheaper accommodations, reducing the budget used on excursions, and switching towards more affordable destinations.
As more and more tourists become irked by the overcrowded and inflated vacation experiences in particular hotspots, it is possible that tourists in 2024 will set their sights on destinations offering budget-friendly vacations with similar itineraries. With websites such as Airbnb, Inc. (NASDAQ: ABNB), Booking Holdings Inc. (NASDAQ: BKNG), and Sun Life Financial, Inc. (NYSE: SLF), tourists have the opportunity to map out their entire vacations at the most affordable prices, exploring new and exciting destinations in the process.
Budgeting your trip
Some would argue that the true beauty of Europe lies in destinations that have been spared from the tirade of excessive tourist inflows. In the past, there were either no avenues for the common tourist to arrange a vacation to such areas, or they would be considered as being unreliable, unsafe, and unfit for tourists. However, over the last decade, this perception has shifted as people have access to more and more avenues to plan trips to some of the most remote recesses of the world.
Websites like Booking, property of Booking Holdings Inc. (NASDAQ: BKNG), and Budget Your Trip provide data for locations, resorts, and excursions. This enables previously unknown tourist spots all over Europe to market themselves without investing the same level of resources as world-renowned hoteling brands. Tourists can use Booking Holdings Inc. (NASDAQ: BKNG) and similar services to break down each leg of their trips into exact monetary terms, without being beguiled by the fame of prominent destinations.
Similarly, Airbnb, Inc. (NASDAQ: ABNB) is the world's largest platform for alternative accommodation. Alternative accommodation is a relatively new manner of lodging that involves living in rented apartments, hostels, or even a spare guestroom. In comparison to hotels, such accommodation is cheaper and can be found in rural travel destinations as well. In providing this service, Airbnb, Inc. (NASDAQ: ABNB) has diverted a large number of tourists away from saturated hot-spots towards less crowded communities.
If you’re looking to visit a cheap European country in 2024, you may also consider obtaining travel insurance such as the packages offered by Sun Life Financial, Inc. (NYSE: SLF). These cover medical treatment and hospitalization bills in the unfortunate circumstance that you or a family member fall ill. Obtaining insurance from companies such as Sun Life Financial, Inc. (NYSE: SLF) allows you to venture into the wild and vivaciously enjoy your vacation.
Methodology
To develop our list of 15 cheapest European countries to visit in 2024, we traversed through similarly recommended lists on the web to develop a shortlist of budget-friendly countries. For these countries, we used Google Flights to obtain data on the cheapest available flight from the US (using JFK as the reference point for departures). Moreover, we used Budgetyourtrip to obtain the average amount required to spend a week-long couple’s vacation in each country. Accumulating these data points allowed us to calculate the total expected amount required on a trip to each country. Each country was ranked in ascending order with respect to this metric, and the top 15 countries were selected as the cheapest European countries to visit in 2024.
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Here are 15 Cheapest European Countries to Visit in 2024.
15. Latvia
Cheapest Return Ticket: $1011
Average expense during stay: $1722
Total cost: $2733
Latvia has a number of beautiful beaches along the Baltic sea, while the capital city of Riga features prominent Art Nouveau architecture. There are many historical castles present in towns across the country. Thus, there is plenty to enjoy in a week-long trip, all for the low price of $2,733.
14. Estonia
Cheapest Return Ticket: $941
Average expense during stay: $1544
Total cost: $2485
Another Baltic state, Estonia is one of the cheapest European countries to visit. It offers a blend of scenic landscapes, diverse wildlife, and Soviet era landmarks. The Lennusadam Museum in the capital city of Tallinn is an excellent starting point if you wish to be accustomed to the rich Estonian culture.
13. North Macedonia
Cheapest Return Ticket: $1083
Average expense during stay: $1388
Total cost: $2471
If you’re looking for a location that offers picturesque scenery whilst not requiring you to take on a second mortgage on your house, forget the shores of Madeira and journey east to the country of North Macedonia. You’ll get the chance to explore one of Europe’s deepest lakes and some of its most stunning peaks, along with the historically rich city of Ohrid.
12. Croatia
Cheapest Return Ticket: $868
Average expense during stay: $1436
Total cost: $2304
Croatia makes for a very cheap vacation that also offers the chance to explore roman heritage, mesmerizing coasts, and modern attractions. Zagreb is becoming an increasingly popular tourist spot; however, it is still a very affordable destination where you can enjoy museums, festivals, and vibrant street life. The city of Split offers a chance to visit the iconic Diocletian Palace and venture off to one of the country’s various islands within the Adriatic Sea.
11. Czech Republic
Cheapest Return Ticket: $741
Average expense during stay: $1548
Total cost: $2289
Whilst the capital city of Prague is famous for its State Opera theater and other orchestras, the rest of the country sees far and few tourists. Czech Republic is an amazing destination for adventure travel, with places like the Bohemian Switzerland National Park and the caverns of Moravian Karst. Moreover, if you steer clear of certain excursions in the capital, there are plenty of ways to immerse yourself in the local culture at an affordable cost.
10. Lithuania
Cheapest Return Ticket: $872
Average expense during stay: $1393
Total cost: $2265
Lithuania is the cheapest European country to visit in the Baltics. In just $2,265, you and your partner can entertain yourself to a comprehensive getaway. Your itinerary can include museums, Baroque monuments, serene national parks, and pristine beaches.
9. Georgia
Cheapest Return Ticket: $1765
Average expense during stay: $461
Total cost: $2226
If you have managed to rack up some airline miles, Georgia is one of the cheapest European countries to visit in 2024. With an average expense on transport, accommodation, and food of just $461 a week for 2 people, the foothills of the Caucasus mountains are the perfect place to enjoy a budget friendly European vacation.
8. Hungary
Cheapest Return Ticket: $1018
Average expense during stay: $1170
Total cost: $2188
Budapest is regarded as being one of the most beautiful capital cities in the world. Sprawling on either side of the Danube River, it features a sea of Gothic, Romanesque, and Art Nouveau architecture. One of the country’s unique features is that it contains over 1,300 thermal springs, many of which are now used to operate year-round spas and baths all over the nation.
7. Armenia
Cheapest Return Ticket: $1727
Average expense during stay: $398
Total cost: $2125
Until mid-2023, the US Travel Advisory had classified a visit to Armenia under the Level 4 category. However, barring a few locations bordering Azerbaijan, the country has been deescalated to Level 2. Since tourists are still acclimatizing to this change, Armenia happens to be one of the cheapest European countries to visit in 2024.
6. Bosnia & Herzegovina
Cheapest Return Ticket: $1079
Average expense during stay: $1040
Total cost: $2119
If you’re looking for a destination with historical significance, Bosnia & Herzegovina happens to be the most underrated destinations in the world. Featuring monuments and shrines from the second world war, the cold war, and the Bosnian war, it is one of the most insightful vacation spots in the world. In terms of scenery, a day trip to the Kravice Falls is a common part of any traveler’s itinerary.
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Disclosure: none. 15 Cheapest European Countries to Visit in 2024 is originally published on Insider Monkey.
