Posted on Wednesday, 19 February 2014

Are there any plus points to the swingeing austerity cuts witnessed across the UK? Is there a silver lining to finding out that many of your local facilities have been reduced? Yes there is: it's ok – cool even – to be cheap. And that cheapness extends to one of the most important purchases you'll make all year: your holiday!

There's no need to spend loads on flashy hotels in expensive cities if you don't want to. You no longer need to be seen in the swankiest restaurants if you don't want to. Trendy, spend thrifts everywhere are kipping in the most economic hostels and guest houses, indulging in street food and shunning taxis at every turn in favour of good old fashioned legs. And of course, they're taking out great value travel insurance with starttravel.co.uk!

So, now we've accepted that being a penny-pinching tourist is perfectly alright, where on Earth (or in Europe) should you go in order to keep those wallet cobwebs in mint condition?

1 – Bucharest, Romania

According to the European Backpacker Index, the best-value destination in Europe is Bucharest. It estimates that you need just US$24.69 (£15) a day to have a decent backpacker experience. This includes about US$4.75 (£2.85) for a hostel, which is low enough to make even the tightest traveller blush. It also reckons that US$12 (£7) covers all meals for a day! But while the huge parliament building is impressive, the city is not one of Romania's most charming.

So where else could you enjoy an anti-splurge getaway?

2 – Kiev, Ukraine

The Backpacker Index puts Kiev in second position, but that was before the current political strife. The Ukrainian capital is certainly one to avoid at present, even if you can live on US$25.62 (£15.40) a day!

3 – Sofia, Bulgaria

In at number three is Sofia, Bulgaria's delightful capital. Getting there can be costly, so it is best visited only as part of a trip around Eastern Europe. But once you're installed, the cost of pretty much everything is very low indeed. According to the Backpacker Index 2014, you only need US$26.32 (£15.80) a day to live it up; a figure which includes a good hostel, transport, meals, drinks/entertainment and attractions. Don't miss the striking Alexander Nevsky Cathedral or the UNESCO-listed Boyana Church.

4. – Belgrade, Serbia

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Better known for being bombed by NATO in 1999, Belgrade is also a great city for some low-cost travelling. However, it can seem a bit austere for those escaping British austerity, with only a few attractions to see. But if you're looking for cheap beer, food and a lively nightlife, then Belgrade is certainly worth a visit. And at US$28.27 (£17) you won't be dipping into your life savings to enjoy it.

5. – Krakow, Poland

If you want somewhere you could happily spend a few days or a week, then Krakow could be ideal. At US$28.87 a day (£17.30), it's cheap by even the stingiest holidaymaker's standards, and yet offers a beautiful, buzzing city centre, excellent (and cheap) restaurants, bars and attractions and friendly locals. While Prague and Budapest have both seen prices rise, Krakow remains a very low-cost city to visit. So enjoy it while it's still cheap!

The other cities in the Backpacker Index 2014 top 10 are:

6 – Sarajevo, Bosnia and Herzegovina – a mountain city with a welcoming Muslim Old Town –US$29.26 (£17.60)/day.

7 – Budapest, Hungary - cathedrals and castles galore. Move outside the city centre for the cheapest hostels – US$33.12 (£20)/day.

8 – Riga, Latvia – a great northern European city with cheap hostels. Getting there is costly though – US$33.21 (£20)/day.

9 – Istanbul, Turkey – The falling lira has made this amazing European-Asian city even more attractive – US$35.89 (£21.60)/day.

10 – Warsaw, Poland – remnants of the Soviet era and low prices make this a great city for a short break – US$37.28 (£22.40)/day.

For the full list of the 51 cheapest cities in Europe, check out the European Backpacker Index.

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