How Much Money Do I Need To Travel Europe?

8th October 2019

For some people, setting a budget is just one more exciting thing to do when planning their European holiday. Mainly because it gives them an opportunity to dream about the castles and banquets they’ll be spending their euros on.

Then there are others who dread the whole ordeal – probably the same people who haven’t visited the dentist in a year.

Knowing things is hard. And who’s got time for calculations?*

Allow me to introduce you to the amazing Holiday Budget robot planner 3000! (Well, it’s not really called that). Planning a budget is hard, it’s not like you just know the cost of a bratwurst and a 1L jug of beer in Munich off the top of your head is it? That’s impressive if you do, but our Holiday Budget Planner actually does know that kind of stuff. Try it out below!

*Ain’t nobody got time for that.

Try our fancy new budget calculator (above) now!

How to plan a trip to Europe with a budget

First up, you need to figure out what you need to budget for.

To work out your rough costs, you’ll need to know:

Where you’re going – for flight costs.
How long you’ll be away – for nightly accommodation costs.
How you want to get around – for transport costs.

It also helps to budget with those you’ll be travelling with, so you can work out what costs are solely yours and what you can share. It’s also a good way to set out what type of holiday you want to have. If you’re a budget traveller who wants to hostel-hop your way through Europe, your budget will be very different to the traveller that wants 5-star, all-inclusive, buffet breakfast, city-view, luxury hotels.

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Image courtesy Instagram @_demiiiii

How much does a Europe trip cost?

Let’s take a look at a few examples of different kinds of holidays you could have in Europe, and address some of those big-ticket costs that need to be budgeted for.

The lovey-dovey couple

This romantic pair is travelling through London for 2 weeks during its beautiful, warm summer. Between them, they’ll need just under $10,000 AUD for flights, accommodation and daily transport.

Flights	From $2,580* per person	Flying from Sydney to London, via Singapore (May 2019).
Accommodation	From AU$4,250^	For 14 nights in a mid-range hotel, in a standard twin-share room.
Public Transport	AU$240	For 2 single tickets per person per day
Total	AU$9,600	For both of you cuties

The solo backpacker

This lucky vagabond is travelling Solo (not even Chewbacca is invited). They’re hitting up France, Spain, Italy and Greece for a whole month of adventure. Depending on how frugal they decide to be, they’ll need about $4,000AUD for flights, accommodation and public transport. Don’t forget to budget your meals and adventures though!

Flights	From $1,780* per person	Flying from Sydney to Paris, with 2 stopovers (May 2019).
Accommodation	From AU$1,680^ per person	7 nights in Paris, 7 nights in Barcelona, 7 nights in Rome and 7 nights in Athens (in budget accommodation)
Public Transport	AU$450	For a youth, 2nd class ticket that allows travel on 5 days within 1 month, for 5 European countries of more
Total	AU$3,910	(Will cost more if your 6-foot 7 hairy beast joins you.)

The fun family

This wonderful family of 2 adults and 2 kids (under age 11) is going on a cruise to visit Barcelona during the school holidays – lucky kids… The parents will need to save around $13,000AUD worth of pennies to afford the flights, cruise and accommodation for this trip.

Flights	From $6,240* for the family	Flying from Sydney to Barcelona, with 1 stopover (May 2019).
Cruise	From AU$5,561~	For a family balcony cabin on a 7 night cruise departing Barcelona
Accommodation	From AU$980^	For 2 standard twin-share rooms in a moderate Barcelona hotel for 7 nights.
Total	AU$12,781	That'll get you all there, and all home in one piece.

Note that these are your core expenses. Other costs from travel insurance, daily expenses like food and drinks, sightseeing, activities and all those shopping trips aren’t taken into account.

Costs of travelling Europe per day

We’ve looked at the big stuff, now let’s get into the intricate expenses.

First of all, a good holiday budget will keep in mind where you can tighten up on expenses – and where you can splurge! Having this type of flexible holiday budget is essential because you never know when an opportunity might come up that you don’t want to miss out on.

For a middle-of-the-road holiday (neither budget nor luxury living) we recommend from:

AU$100 to AU$150 per person, per day.

This will cover sightseeing, food and drinks, shopping and other nitty-gritties. But of course, there are heaps of ways to cut down on this cost – or add to it – to create your preferred budget.

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Consider your bookings

It helps knowing exactly what’s included in what you’ve booked. Does your hotel include breakfast in the per night cost? If it does, then that’s one less thing you need to budget for. Or does your accommodation have kitchen facilities? That gives you a cheap’n’easy, DIY meal option.

You can also look for other ways to save. Can you purchase a public transport pass, rather than buying single tickets (as usually, this will offer some savings)? Or can you purchase a sightseeing pass that includes entry costs and public transport? If you can, why not go for it and save.

Final words on budgeting

Well, that was probably a lot to take in, so let’s finish up with some easy-peasy dot points.

It can help to have a pre-agreed cost for things (pre-agreed with yourself, or your travel companions if you’re splitting costs). This avoids arguments, stress and overspending.
Put time and research into your ‘per day’ budget and include the things you really want to do. Once you know the costs, you have a goal to save for.
It pays to book things in advance, but sometimes you might be able to find a cheaper price when you are in the country
Don’t forget to factor in your pre-travel costs (e.g. travel insurance, immunisations and visas).
Budget for cheap eats some days so you can gorge other days. From enjoying a glass of champagne at the top of the Eiffel Tower to devouring food at Germany’s food stalls.
Don’t forget those sneaky costs (e.g. transfers, tours and tipping).

If you still need help with setting a holiday budget, our travel money experts have a handy budgeting tool available in any of our 165 stores across Australia and New Zealand.

*Flight costs based on search from www.flightcentre.com.au and are indicative costs only, based on prices available on 10 August 2018. ^Accommodation costs are based on an average per night price for budget, moderate or luxury hotels, as indicated in the table. ~Cruise cost is based on search from www.ncl.com for a 7 night Western Mediterranean cruise onboard Norwegian Epic, departing Barcelona in May 2019, and is an indicative cost only, based on prices available on 10 August 2018. **Rail Pass cost is based on search from http://www.eurail.com and is an indicative cost only.
COST COMPARISON TABLE: All costs are based on estimated approximate costs from major metropolitan cities in each country. “From” costs indicate costs that start from the indicated price and may be higher than shown. Average prices indicate a typical estimated cost you would pay for the indicated item. Prices may vary from time to time, and in different cities and towns within each country. Cities includedare: London, United Kingdom; Rome, Italy; Paris, France; Berlin, Germany; Barcelona, Spain; Athens, Greece; Budapest, Hungary; Prague, Czech Republic; Amsterdam, The Netherlands.
This blog is provided for information only and does not take into consideration your objectives, financial situation or needs. You should consider whether the information and suggestions contained in any blog entry are appropriate for you, having regard to your own objectives, financial situation and needs. While we take reasonable care in providing the blog, we give no warranties or representations that it is complete or accurate, or is appropriate for you. We are not liable for any loss caused, whether due to negligence or otherwise, arising fromuse of, or reliance on, the information and/or suggestions contained in this blog.