Sterling’s rise means Turkey is the cheapest destination for a half-term holiday, with Marmaris being best value in the Post Office survey in terms of overall cost and for eating and drinking.

The cost of meals and drinks there has fallen 10% since 2019, the survey found, with a three-course family meal with wine costing £28.24 and a total package cost of £1,766.

Portugal was the next cheapest in both categories, despite a 14% increase in meal and drink costs, with a family meal costing £47. Third place Cyprus saw food and beverage costs fall 18%, but Paphos had the most expensive overall package cost, at £4,152.

In terms of overall package cost, Porec in Croatia was third cheapest, despite having the most expensive meals costs, at £91. Its total costs reached £2,177, putting it ahead of the Costa del Sol (£2,552) and Majorca (£2,694).

The survey said: “The most expensive of the 10 destinations surveyed was Porec in Croatia, where prices have risen by 4% to £91.29. However, that position is reversed when a week’s worth of meals and drinks are combined with the cost of a one-week package for four.

“Conversely, while resort prices have fallen sharply in Cyprus, the cost of a one-week package to Paphos was double that in Turkey, Portugal and Croatia.  As a result, the island looks to be the most expensive half-term holiday choice for British families at an overall cost of £4,132.”

The Post Office reported “surging demand” for foreign exchange. Head of Post Office Travel Money Nick Boden said: “In September, Euro sales were more than treble those earlier in the summer as well as being double the volume sold last September. 

“Croatia’s kuna has risen to third place in our list of currency bestsellers and sales have mushroomed by over 1,200% year-on-year in the last month.

"Although sterling has surged 25% year-on-year against the Turkish lira, we have yet to see a similar rise in sales, but this could happen now that Turkey has been released from the government red list.”