Although the average price of a hotel has risen in Lisbon - from €43 a night in September 2021 to €67 now – the capital came in second for value in the report.
At the top of the list was Athens, where a weekend break costs on average €240, some 15% less than last year.
Krakow, Riga, Budapest and Prague are all next on the list, followed by Madrid, Berlin, Dubrovnik and Rome.
Where is most expensive?
Amsterdam and Venice were the most expensive cities to visit according to the survey.
While accommodation costs rose by 20 per cent in 15 of the 20 cities surveyed, they saw a particularly sharp increase in Amsterdam (104 per cent), Barcelona (67 per cent) and Paris (62 per cent).
The study takes into account the overall cost of a trip, including drinks, a three-course meal for two with a bottle house wine, two nights’ three-star weekend accommodation, sightseeing and city transport.