It’s perhaps worth noting that old fallacy that the Chinese word for ‘crisis’ is the same as that for ‘opportunity.’ While Greece’s economic miseries may continue, there’s never been a better time to island hop, with perceived instability deterring many regular visitors. As a result Greece’s normally packed beaches will be far quieter than usual this summer, more welcoming than ever and island economies are likely to be far cheaper especially if you travel outside of peak season. Some of our favourite spots include Hydra, Kefallonia, Ikaria and Santorini.
In the charming and dramatically hilly Portuguese capital of Lisbon your money goes a long way: delicious coffee or a pastel de nata (traditional custard tart) in the sun tend to cost less than a euro, and you can eat well and ride around town on the rickety but romantic network of old trams for similarly bargain prices. Free museums such as the contemporary collection of the Museu Colecção Berardo are further deal sweeteners – and there are always the beaches to the south of the city to enjoy on a day trip if you tire of the city’s plentiful urban pursuits.
It may never become a true budget destination, but Iceland is cheaper that it has been in a decade following several economically tumultuous years and a currency devaluation that suddenly made its once outrageous prices far more reasonable. This makes now a superb time to discover this stunning North Atlantic island where volcanoes, geysers, glaciers and hot springs create one of the planet’s most exciting landscapes. For those on a very tight budget, wild camping is allowed across Iceland and is a great hotel alternative for those that don’t mind roughing it.
Getting Mediterranean beaches to yourself can be a mission anywhere in Europe, let alone getting them at a decent price. Even Albania’s Ioanian coastline, long a backpacker magnet, has become pricey and crowded in parts, as new roads and hotels have been constructed along what is certainly some of Southern Europe’s most beautiful coastline. But there are still bargains to be had: Vuno and Drymades are still development-free and boast access to superb slices of idyllic beach. Elsewhere Albania offers superb mountain walking, ancient mountain towns and a plucky, fun and cheap capital city, Tirana.
Surprisingly, Berlin, the capital of Europe’s largest economy is also one of its cheapest cities. And what a city: where else can you see Cold War and WWII relics in the flesh, enjoy a selection of some of Europe’s best contemporary art and shopping before dining on traditional German food with a modern twist and then spending a pittance as you bar hop between some of the coolest and most fun bars and clubs on the planet? What’s more, mid-range accommodation is at rock bottom prices here, just a fraction of what you’ll pay in cities of similar stature such as London, Paris or Rome.
Where? Few people can place the treeless Danish-ruled Faroe Islands approximately halfway between Scotland and Iceland, and that’s a shame as the 18 extraordinary-looking volcanic creations that soar out of the Atlantic offer some of Europe’s best-value hiking and bird watching. With the Danish government generously subsidising the helicopters and boats that function like buses between the islands, you can zip about very affordably and enjoy world-class walking without seeing so much as another soul. Accommodation is in surprisingly comfortable hostels and increasingly popular homestays arranged by the tourist board.