According to the annual survey by the Post Office Travel Services which delves into the costs of holiday cash nearly 50% of British tourists are trying to find ways to cut back on their holiday expenditure.

One of the big cutbacks has been on food and drink where tourists spent less time in the bars and tended to eat in their accommodation as well as not taking as many sightseeing and day trips.

The pounds value when compared to other currencies has also affected where people are choosing to spend their fortnight in the sun. Countries who make use of the euro are 10% cheaper than they were a year ago because of exchange rate falls.

Countries outside the euro zone such as Bulgaria and Romania are still popular destinations as their overall day-to-day holiday costs are considerably lower than those in Western Europe.

The survey discovered that Spain is the only exception to the rule coming in top of the euro zone countries and second overall.

The cheapest destination in the world for Brits was Thailand.