In this article, we present the 15 cheapest European countries to visit in 2024. If you want to skip the detailed analysis on tourism in Europe and how to budget for a vacation, go ahead to “The 5 Cheapest European Countries to Visit in 2024.”
European Tourism
Europe is by far the most popular tourist destination of all continents. According to the UNWTO, 54% of the world’s international tourists will arrive in Europe in 2023, with the Southern/Mediterranean region being the most visited tourist destination. Europe is highly attractive to tourists because of its friendly visa policies, diverse destinations, and the fact that it is considered safer than other destinations in the world.
Like most of the world, tourism in Europe has yet to recover to pre-pandemic levels. In 2023, the continent will welcome 700 million tourists across the region, 94% of 2019 levels. This is despite many destinations in Southern Europe and the Mediterranean coast exceeding pre-COVID levels. According to a report by the European Travel Commission, countries such as Serbia, Portugal and Montenegro all welcomed 10% more tourists in 2023 than in 2019. In comparison, 65% of European destinations are still below pre-pandemic levels. The slowest recovery is in the Baltic states of Estonia, Latvia and Lithuania, each of which has not even reached 75% of pre-COVID tourist numbers. This stark disparity in tourism recovery across the continent is a challenge. Despite the huge number of tourists flying into Europe each year, many of Europe’s most beautiful places continue to be replaced by popular spots such as the beaches of Ibiza, the bustling streets of Paris and the canals of Venice. This rapid influx of tourists to just a handful of destinations is threatening the sustainability of European tourism. Recently, more and more tourists have been critical of popular spots, denouncing them as “tourist traps” and instead seeking out less crowded destinations. Another factor that worries tourists is the inflation rate witnessed in post-pandemic tourism. According to Allianz Research, the daily rate (global average) for a hotel room has jumped to $212 in Q1 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 cut costs during their vacations. This includes choosing cheaper accommodation, spending less on outings, and switching to more affordable destinations.
The story continues
As more tourists grow weary of overcrowded and overpriced vacation experiences at certain popular spots, tourists in 2024 may turn to destinations that offer budget-friendly vacations with similar itineraries. Websites such as Airbnb, Inc. (NASDAQ: ABNB), Booking Holdings Inc. (NASDAQ: BKNG) and Sun Life Financial, Inc. (NYSE: SLF) give tourists the opportunity to plan their entire vacation at the most affordable price and explore new and exciting destinations in the process.
Budget for your trip
Some would argue that the true beauty of Europe lies in the destinations that have escaped the onslaught of tourist overflow. In the past, the average tourist either did not have the means to plan a holiday to such areas or they were considered unreliable, unsafe and unsuitable for tourists. However, over the past decade this perception has changed and people now have more and more access to the means to plan trips to the most remote places in the world.
Websites such as Booking and Budget Your Trip, owned by Booking Holdings Inc. (NASDAQ: BKNG), provide data on places, resorts and excursions, allowing lesser known destinations across Europe to promote themselves without investing the same level of resources as world-famous hotel brands. Tourists can use Booking Holdings Inc. (NASDAQ: BKNG) and similar services to break down each leg of their trip with an exact dollar amount, without being misled by the name recognition of well-known destinations.
Similarly, Airbnb, Inc. (NASDAQ: ABNB) is the world’s largest platform for alternative accommodation. Alternative accommodation is a relatively new way of staying in rented apartments, hostels, or vacant guest rooms. Compared to hotels, such accommodations are inexpensive and can be found even in rural destinations. By offering this service, Airbnb, Inc. (NASDAQ: ABNB) has steered many tourists away from saturated hotspots and into uncrowded communities.
If you’re planning on visiting an inexpensive European country in 2024, you should also consider purchasing travel insurance, such as the packages offered by Sun Life Financial, Inc. (NYSE: SLF). These policies will cover medical and hospital expenses if you or a family member unfortunately falls ill. With insurance from a company like Sun Life Financial, Inc. (NYSE: SLF), you can explore the great outdoors and enjoy your vacation in good health.
methodology
To create our list of the 15 cheapest European countries to visit in 2024, we looked at similarly recommended lists across the web and compiled a shortlist of budget-friendly countries. For these countries, we used Google Flights to get data on the cheapest available flights from the US (using JFK as the reference point for departure). Additionally, we used Budgetyourtrip to get the average amount needed to spend a week-long couple’s vacation in each country. Accumulating these data points allowed us to calculate the expected total amount needed to travel to each country. The countries were ranked in ascending order according to this criteria, and the top 15 countries were selected as the cheapest European countries to visit in 2024.
By the way, Insider Monkey is an investment website that tracks the activities of company insiders and hedge funds. It uses a similar consensus approach to identify the best stock picks of over 900 hedge funds that invest in U.S. stocks. The top 10 hedge fund consensus stock picks have outperformed the S&P 500 Index by more than 140 percentage points over the past decade (more here). Whether you’re a beginner investor or a professional investor looking for the best stocks to buy, you can benefit from the wisdom of hedge fund and company insiders.
Here are the 15 cheapest European countries to visit in 2024.
15. Latvia
Cheapest round-trip ticket: $1,011
Average cost of stay: $1722
Total cost: $2733
Latvia has plenty of beautiful beaches along the Baltic Sea, the capital Riga is renowned for its Art Nouveau architecture, and there are plenty of historic castles in towns throughout the country, so there’s plenty to do on a week-long trip – and for the low price of $2,733.
14. Estonia
Cheapest round trip ticket: $941
Average cost of stay: $1,544
Total cost: $2,485
Another Baltic state, Estonia is one of the cheapest countries to travel to in Europe. Its combination of beautiful landscapes, diverse wildlife and Soviet-era sights is captivating. The Lennusadam Museum in the capital, Tallinn, is a great starting point for discovering the rich Estonian culture.
13. North Macedonia
Cheapest round trip ticket: $1,083
Average cost of stay: $1,388
Total cost: $2471
If you’re looking for a picturesque location without having to take out a second mortgage on your home, forget the coast of Madeira and travel east to North Macedonia. You’ll get the chance to explore one of Europe’s deepest lakes, some of its most stunning mountains and the historic city of Ohrid.
12. Croatia
Cheapest round trip ticket: $868
Average cost of stay: $1,436
Total cost: $2304
Croatia is a very inexpensive holiday location where you can explore Roman heritage, enchanting coasts and modern attractions. Zagreb is becoming an increasingly popular tourist destination but it’s also a very affordable destination with museums, festivals and vibrant street life. In the city of Split you can visit the iconic Diocletian’s Palace or venture out to one of Croatia’s various islands in the Adriatic Sea.
11. Czech Republic
Cheapest round trip ticket: $741
Average cost of stay: $1,548
Total cost: $2289
While the capital, Prague, is famous for its State Opera and other orchestras, other parts of the Czech Republic are largely deserted by tourists. The Czech Republic is a great place for adventure travel, with destinations like Bohemian Switzerland National Park and the caves of the Moravian Karst. Plus, if you avoid certain excursions in the capital, there are plenty of affordable ways to immerse yourself in the local culture.
10. Lithuania
Cheapest round trip ticket: $872
Average cost of stay: $1,393
Total cost: $2265
Lithuania is the cheapest Baltic country to visit in Europe. For just $2,265, you and your partner can enjoy a well-deserved vacation, with an itinerary that includes museums, baroque architecture, tranquil national parks, pristine beaches, and more.
9. Georgia
Cheapest round trip ticket: $1,765
Average cost of stay: $461
Total cost: $2226
If you’ve got airline miles to spare, Georgia is one of the cheapest European countries to visit in 2024. With average costs for transport, accommodation and food coming in at just $461 per week for two people, the foothills of the Caucasus Mountains make it the perfect location for a budget-friendly European getaway.
8. Hungary
Cheapest round trip ticket: $1,018
Average cost of stay: $1,170
Total cost: $2188
Budapest is considered one of the most beautiful capital cities in the world. Spread across both sides of the Danube, the city is filled with Gothic, Romanesque and Art Nouveau architecture. One of the country’s unique features is that it has over 1,300 thermal springs, many of which are now used as year-round spas and baths across the country.
7. Armenia
Cheapest round trip ticket: $1,727
Average cost of stay: $398
Total cost: $2125
Until mid-2023, U.S. travel advisories classified travel to Armenia as Level 4. However, Armenia’s alert level has been lowered to Level 2, except for a few locations bordering Azerbaijan. Tourists are still getting used to this change, making Armenia one of the cheapest European countries to visit in 2024.
6. Bosnia and Herzegovina
Cheapest round trip ticket: $1,079
Average cost of stay: $1,040
Total cost: $2119
If you’re looking for historically significant sites, Bosnia and Herzegovina is one of the world’s most underrated destinations. Filled with memorials and sacred sites from World War II, the Cold War, and the Bosnian War, Bosnia and Herzegovina is one of the most insightful vacation spots in the world. In terms of scenery, a day trip to Kravice Waterfalls should be on any traveler’s itinerary.
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