In a new worldwide survey of ski resorts, Bulgaria's Bansko came in as the cheapest ‘ski holiday basket' for UK skiers and also as the best place to go for ‘value for money' according to M&S Money's latest report, cited by the UK travel site holidayextras.co.uk.

Travel money provider M&S Money's survey compared the cost of items bought on a typical skiing holiday at ski resorts around the world. Bulgaria came out cheapest with its ‘ski holiday basket' costing GBP 471 at the popular ski resort of Bansko.

In contrast the most expensive skiing destination in Europe was found to be Switzerland. The cost of the ‘ski holiday basket' at the Swiss resort of Engelberg was GBP 585. 

The M&S report stated that "although Bulgaria is now in the European Union it does not plan to replace its currency, the lev, with the euro until 2012. The lev is pegged to the euro, but most items in the survey were found to be cheaper than in other European countries." 

"Our survey has shown that skiers willing to try alternative destinations, such as Bulgaria and Italy, can still enjoy a break on a budget,"commented M&S Travel Money manager, James Yerkess. 

"Sterling has weakened significantly against the euro in recent months, meaning Brits heading to popular resorts in Switzerland and France will notice the difference in the price of everyday items,"continued Yerkess. 

Not surprisingly given the weakening of the pound against the dollar, the survey also reported that the US is one of the most expensive ski holiday destinations for British people. A seven day ski lift pass for one adult was found to cost GBP 252 at the resort of Breckenridge in Colorado, compared to just GBP 146 in Bulgaria.