According to a new study by financial comparison company money.co.uk, Greece’s second largest city is Europe’s second cheapest – at least if you’re a tourist. The research revealed the historical city as a remarkably affordable place to visit, with Istanbul being the only city to beat its prices. Athens also placed high on the company’s list, ranking as the 6th cheapest city.

The ranking was calculated by adding up the prices in each city for the average cost of a one-night stay at an Airbnb, a 24-hour transport pass, entry to the city’s top-rated attraction, the cheapest listed meal at a top-rated restaurant, and the average price of a glass of wine.

Increasingly popular among travelers in recent years, Thessaloniki boasts many qualities making it excellent for short getaways; while it’s at once compact and easy to get around, it’s also scattered with important historical sites and has a vibrant contemporary cultural scene. All of this, of course, appears even more attractive when one can experience it at a low cost. The study found the average cost for one night in an Airbnb in Thessaloniki is €75.06 (£62.25), while the cost of a regular entry ticket at the Archaeological Museum of Thessaloniki, a top-ranking attraction, is only €8 (£6.66). Bus fare is as low as €1.80 (£1.52). It was also noted that you can get a cheap meal at a good restaurant in the seaside city for as little as €6 (£5.02), and a glass of white wine for €4 (£3.27).

“Despite being an ancient city, which tourists can see from the ruins of Roman Emperor Galerius’ 4th-century palace, much of the city was destroyed in the Great Fire of 1917 and was rebuilt in a far more modern style. This mix of architecture makes it a place worth visiting and tourists can learn more for just £6.66 by visiting the Archaeological Museum of Thessaloniki. If all the Greek history is too much to take in, you can take the edge off with a glass of wine costing just £3.27,” the company’s report stated.

Meanwhile, Athens, listed as Europe’s 6th most affordable city break destination, is also home to plenty of cheap Airbnbs as well as high-end options, and the average cost of a one-night stay, according to the study, is €87.90 (£72.9). The cheapest meal at a top-rated restaurant in the capital was found to be around €7 (£5.82) and a glass of wine circa €4.50 (£3.77), while entry to the Acropolis is €20 (£16.65).