IT’S official. The Costa del Sol is the cheapest holiday destination in Europe.

A major study found a jolly on Spain’s southern coast was less than half the price of rival hotspot Ibiza and even out priced notoriously cheap Sunny Beach in Bulgaria.

CHEAP: Costa del Sol

The UK’s Post Office Travel Supermarket study compared the price of 10 items in 15 holiday destinations which are a favourite with Brits, including the Costa Blanca, Mallorca, Portugal’s Algarve and Greece’s Crete.

The sum total of the items, which included ice cream, sun-lounger rental and a banana boat ride, reached just €86.20 on the Costa del Sol.

It was followed by Sunny Beach on £89.93 and the Costa Blanca on €106.21.

Mallorca’s Palma Nova and Ibiza helped round off the list with €141.49 and €197.30 respectively.

The study showed a huge difference in food costs, with a three-course evening meal on the Andalucian coast costing just €45.31, compared to €125.01 in Ibiza and €86.72 in Mallorca.

The most expensive destination was Italy’s Sorrento, where a three-course evening meal would set you back €148.44.

Prices across the board have increased by 9.8% on the Costa del Sol and Costa Blanca, and by a whopping 23.6% and 25.6% on Mallorca and Ibiza respectively.

Meanwhile, second-placed Sunny Beach in Bulgaria only saw a price increase of 2.6% on last year.