The review of 48 destinations by Post Office Travel Money found the cost of a city break can vary hugely – from under £150 to more than £450.
Costs in some popular destinations have tumbled over the past year – including in Venice, Rome, Amsterdam, Madrid, Lisbon and Berlin.
A cheaper and wider choice of accommodation has helped push down prices, the report said.
It looked at how much getaways could add up to in various destinations, including the cost of a two-night stay for two adults in three-star accommodation – as well as typical costs that holidaymakers might incur such as transport within the city, food and drink and visits to attractions. Costs also took exchange rates into account.
The City Costs Barometer found a city break in Madrid is around £317.06 – 14.3 per cent cheaper than last year.
A break in Berlin could could cost around £252.84 – a 10.7 per cent annual fall.
At £256.32, a typical break in Rome is 9.3 per cent cheaper than a year ago, while the average cost of a break in Venice is £325.11 – an annual 23.3 per cent fall.
A break in Amsterdam could cost £444.29 – a fall of 17 per cent year-on-year, while a getaway in Lisbon adds up to around £207.27 – down 1.4 per cent.
Barcelona is 2.4 per cent cheaper than a year ago, at around £348.93.
Travel costs to each destination are not included in the report.
It also looked at the cost of a city break in the UK’s capital cities.
The findings suggest that, within the UK, tourists may see their money go further in Cardiff.
The cost of a stay in the Welsh capital is around £292.90, just pipping Edinburgh (£295.25).
London was the most expensive city within the UK, at £364.07 – a year-on-year rise of 3.7 per cent.
Meanwhile, a break in Belfast costs around £312.65.
A getaway in Dublin would set holidaymakers back £385.07, the report found, although this is a slight 1 per cent year-on-year fall.
Holidaymakers looking for a bargain break will also find value in Eastern Europe.
The report highlighted Vilnius in Lithuania and Belgrade in Serbia as places offering value, with the cost of a getaway at around £147.35 and £151.57 respectively.