For a basket of 10 categories including a meal out, drinks and sun cream, Sri Lanka was 38% cheaper than its nearest rival, Thailand.
Vietnam, which now welcomes an increasing number of UK visitors, was rated the third least expensive country in the list, with Hong Kong the most expensive overall and China showing the biggest price rise over the last year.
Prices in South Africa have gone down 27%, with the country now more tourist-friendly financially following the price hikes during the 2010 World Cup. Barbados was the most expensive Caribbean destination, with the Dominican Republic the cheapest.
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