Spain‘s capital and most populous city has made it onto the list of “best budget city break” destinations for the summer months. Madrid is known for being a vibrant and bustling city and is also described by the Spanish tourism board as being “welcoming and diverse” meaning it’s a destination for everyone to enjoy.

According to data collected and analysed by travel insurance experts from Quotezone, the city offers one of the “most affordable city breaks across the continent”. It was also the only Spanish city to make it onto the list and beat the likes of Athens, Vienna, Rome and Paris in terms of affordability.

The cities were ranked based on several factors which budget holidaymakers should look out for, including tourist tax, hotel costs, the price of a meal and beer, public transport ticket costs, and the distance from the airport.

With many destinations upping the price of tourist tax for visitors, Madrid was highlighted as it does not make visitors pay a tax. The study also applauded the city for its affordable dining options.

While the capital city has plenty of high-end restaurants, there are also purse-friendly options around.

According to the study, on average, you can enjoy a meal for around €14 which is approximately £12. And if you want to sit and enjoy the sunshine with a beer in hand, the average beer costs €3.50 – roughly £3.

This is a little higher than cities such as Zagreb, where you can get a local beer for around £2.50.

However, when you compare it with the average price of a beer in the UK’s capital city of London – approximately £5.90 – Madrid’s beer is noticeably more affordable.

On average, a single public transport ticket will set you back €1.50 (approximately £1.30), according to Quotezone, which means you can explore the city without breaking the bank.

There is so much to do in Madrid, regardless of the type of holiday you are after. The busy city streets are dotted with shops, restaurants with world cuisine, bars and a thriving nightlife scene. If you’re a history spot, there are multiple museums around the city and seemingly endless historic buildings to admire.

“Madrid’s authenticity is hard to beat,” said the Spanish tourism board.

“It is welcoming and diverse. Madrid is, without a doubt, one of Europe’s most interesting cities.”