Sunny Beach, Bulgaria, recommended as one of the cheapest holiday destinations in the world right now

The weather's crap and we're already in May, so I reckon it's very much time for a holiday.

But with the cost of living crisis still squeezing us all for every penny, you'll also want to keep the costs down as much as possible.

Well, as luck would have it - and with it being an annual occurrence - the lads over at the Post Office have compiled a list of the cheapest destinations around, called the 'World Holiday Costs Barometer' (WHCB).

For the past decade, they've been crunching the numbers, calculating the cost of eight key holiday staples: a three course meal for two, a cup of coffee, a bottle of beer, a Coca-Cola, a glass of wine, a bottle of water, sun cream, and insect repellent.

The figures are then put together for 40 cities and resorts to determine the most cost effective holiday destination.

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And it turns out that a fan favourite among teenagers has come out very near the top of the tree.

Yep, it's our old friend Sunny Beach in Bulgaria, which has long been a destination hot spot for Brits.

In third position on this year's list, the budget resort will set you back just £58.30 for the above.

Breaking the numbers down further, a bottle of beer over there will cost you just £1.90, which when you're paying £4 in Blighty, ain't too shabby.

And you can get a three course meal, according to the guide, for under £37. Good times indeed, eh?

But Sunny wasn't as cheap Marmaris in Turkey, where the essentials will cost around £57.59.

There you can get a meal for just over £40 and a glass of wine for £3.75.

Taking the top spot, however, is Cape Town.

Yep, you can get a three course meal, insect repellant, etc. in the South African capital for just £51.44 - an absolute steal if you ask me.

Ian Dagnall/Alamy

If none of the above tickle your fancy, though, you could always head down to the Croatian party island of Pag, where a pint will set you back just a quid.

For any Brits after some bargain boozing this summer, look no further than Europe's secret party town that puts the festivities of Ibiza, Zante and - dare we say - Shag-aluf to shame.

The gorgeous scenic spot is located in Croatia - and it's not Split, home of the Ultra Europe festival, or Dubrovnik, which sports one of the most legendary club spots in the country.

The new hotspot is Pag Island which offers bevs for as little as £1.11 a pop - not bad considering the cozzie livs we're currently plagued by.

Offering the best of both worlds, people can party hard all night and then sleep off their hangovers all day on the huge selection of beautiful scenic beaches.

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For those wanting to get their groove on in their swimsuit under the scorching sun with a cheap as chips drink in their hand - then look no further than the island’s Zrce Beach in Novalka which boasts a whole load of beach clubs.

One of which is veteran venue, Kalypso, which has been providing pints, parties and pumping tunes for almost 20 years now.

A handful of popular music festivals are also hosted on Pag Island, including the likes of Hideout, Fresh Island Festival, Sonos Festival and Barrakud.

See you in a bit, lads, I'm off to book my flights. Happy travels.