Strolling through a Christmas market, enveloped by the scent of spiced mulled wine and wooden huts brimming with unique gifts, is part of what makes the festive season so enchanting. And there’s one in Europe that’s been hailed as the most affordable for a winter escape.

Europe boasts a plethora of countries offering some of the most stunning Christmas markets, nestled within their captivating towns against mountainous backdrops that could easily be mistaken for a scene from a Hallmark film. However, some of these locations can come with a hefty price tag as costs are inflated during the festive period, but that doesn’t mean we have to forego our European winter wonderland. One European destination that delivers the magic of Christmas at a bargain price is Latvia’s capital, Riga, with direct flights starting from just £20, reports the Mirror.

The city, famed for its pedestrian-only medieval Old Town and Art Nouveau architecture, provides everything you could desire for a festive winter getaway. The biggest draw during this time of year is their quaint and traditional Riga Christmas Market in Dome Square, teeming with stalls and a bustling food scene featuring wintry street-food dishes and Latvian cuisine. Warming mulled wines are also on offer, along with festive cocktails, while visitors peruse the stalls of local Latvian artisans.

The Riga Christmas Market, running from 28 November to 4 January, might just be the perfect spot for some festive shopping inspiration. It offers a variety of handcrafted gifts including beeswax candles, gingerbread, socks, wool gloves, and creative kits for making wreaths, wall decor and acrylic dishes.

Adding to the enchantment, there will be a DJ every Friday, choirs and music ensembles performing on Saturdays and folk music on Sundays.

Riga, known as the ‘Art Nouveau capital of Europe’, is a captivating place, with charming, colourful homes adorning the streets and a vibrant cultural scene. Moreover, it’s packed with shops and cosy restaurants offering a traditional taste of Latvia, and its bustling Livu Square, teeming with bars and nightclubs.

Another major draw of this European city is its affordability. The annual Post Office Christmas Markets Barometer revealed that Riga is one of the most affordable European destinations for a two-night weekend Christmas market experience, in contrast to Copenhagen and Vienna, which are ranked among the priciest.

The Post Office disclosed the likely expenditure in Riga during a two-night break for two during the Christmas market season, and it certainly offers good value for money. They revealed the following prices:

• Four cups of coffee from a cafe or bar = £11.49
• Two three-course meals for two (including a bottle of wine) = £132.89
• Two return bus/train transfers from the airport to the city centre = £7.18
• Four glasses of mulled wine, punch or Glühwein at the Christmas market £14.37
• Four pieces of cake/gingerbread/stollen at Christmas market £12.57

Moreover, the Post Office discovered that a two-night stay in a B&B in Riga, including direct flights or Eurostar for two, would total £377.00. With all expenses accounted for, this weekend escape for two in Riga would amount to £555.50 overall, or £277.75 per person.

This is a stark contrast to Copenhagen in Denmark, where the same amenities are estimated to cost two people a staggering £1,056.55. Or a hefty £926.41 for an identical two-night trip to Vienna in Austria.

Direct return weekend flights from London Stansted to Riga start from approximately £87 per person, while mid-week return flights can be secured from around £45. Additionally, flights from Leeds to Riga can be found for as little as £20, with returns costing around £42.

Furthermore, direct flights from Manchester begin at around £25, or £45 for a return flight. Flights from East Midlands Airport (EMA), near Nottingham, to Riga start from £22, or around £45 for a direct return.

The best flights can be checked on the Skyscanner website here.

Laura Plunkett, head of Travel Money at Post Office, commented: “A short break to one of Europe’s colourful Christmas Markets is an attractive holiday option at this time of year. However, sterling’s drop in value is an important factor for travellers to consider before booking a trip, as it varies between currencies. The pound’s fall against the euro is smaller than against other European currencies – five per cent compared with 10.6 per cent against the Hungarian forint and 10.9 per cent against the Swedish kronor.

“The cost of flights and accommodation will also have a significant impact on overall costs so it is doubly important for holidaymakers planning a trip to do their homework to factor in how sterling’s value, flight and hotel capacity and meal costs will affect overall costs. Budget-conscious travellers stand to save hundreds of pounds if they choose carefully.”