Taking a break from work or studies and exploring the world on backpacker travel insurance means some serious budgeting, unless you are lucky enough to be blessed with a bottomless bank account. However, the latest research has shown that with a bit of careful planning, the pound can stretch a lot further, good news for hikers and holidaymakers enjoying a single trip travel insurance break alike.

With the strength of sterling against foreign currencies, combined with difficult political circumstances, Brits looking to make the most of their money will find that choosing certain destinations means they are able to afford that little bit more.

Egypt was enjoying a booming tourist trade until the recent riots sent its travel industry into rapid decline. Eager to woo its holidaymakers back, the country is slashing costs and this, coupled with a weak economy whilst it battles to overcome the political events of 2011, means bargains are aplenty.

The same principles apply to Greece which has long been a firm favourite amongst sun-seekers and those touring on their backpacker travel insurance, hopping from island to island. With a large part of the economy dependent upon tourist revenue, the cost of meals out and drinks has shrunk, making Greece an attractive option to consider.

However, for true value, Turkey is near the top of the list with a fall in real terms of the cost of dining, drinking and entertainment of around 13 per cent. The drop in costs coupled with the stronger sterling against the Turkish lira – of around 3 per cent compared year on year – means resorts such as Marmaris are once again becoming a popular choice for those searching for a sunny destination for a holiday on their single trip travel insurance.

The priciest resorts in Europe have been named as Italy and France, with Cyprus and Croatia also on the list.