The cost of many usual holiday items has dipped sharply recently thanks to the strength of the pound, said Thomas Cook, the compilers of the index.
Tenerife had the cheapest taxis, with a three-mile trip costing pounds 2.95 compared with pounds 11.35 for the same journey in Malta. Best value for eating out was the Greek island of Corfu where a three-course set meal cost only pounds 6.70. Malta, at pounds 13.75. has the most expensive meals.
The survey found that Spain's Costa del Sol had the cheapest beer, at 65p a bottle, while Sorrento in Italy had the dearest, at pounds 1.80 a bottle. A cup of coffee cost 45p in Madeira but pounds 1.20 in Cyprus. Turkey had the cheapest 24-exposure film (pounds 2.05), while the dearest was in Malta (pounds 8.60).
"Things have just got better and better for holidaymakers over the past three years since we started the index," said Andrew Windsor, Thomas Cook retail director.