In a recent poll by Travelex almost a quarter of Brits (24%) admitted they would rather go abroad to ring in the New Year as it is cheaper than staying in London.

The research suggests that London is one of the world’s most expensive destinations to celebrate the New Year, with Londoners and visitors spending an average of £336.14 per person on December 31^st – the average cost of a pint of beer, bottle of champagne, an evening meal and admission to fireworks display.

Among the six destinations surveyed, Prague was found to be the least expensive with dinner and drinks costing an average of just £42.90 while, in a separate survey, three in ten (30%) of Brits said they would like to spend their New Year in New York.

The average spend in New York on New Year’s Eve was also found to be considerably lower than that of London at £118.60 per person.

David Swann from Travelex commented: “The pound is providing good value for Brits who want to enjoy a New Year overseas. Despite Brits being put-out by the price of celebrating in the UK, it’s great to see from our research that the price of key items such as beer and champagne are cheaper overseas.”

Additionally the survey also found that men are more likely to spend more on New Year’s Eve with the average UK man spending £200 – two fifths (18%) more than the women’s average of £169.