Where is the cheapest place to go on holiday? Last-minute deals for 2026

Want to get away but don’t want to break the bank? If you’re looking for the cheapest place to go on holiday right now, you’re not alone. Last-minute deals are exploding in early 2026, and the secret isn’t just booking at the last second-it’s knowing where to look and what to avoid. The truth? Some of the most affordable spots aren’t the ones you’d expect.

Portugal: The Hidden Gem of Europe

Portugal is still the top pick for budget travelers in 2026. Flights from Toronto to Lisbon or Porto are averaging $520 round-trip, down from $780 just two years ago. Why? Airlines like Air Transat and Ryanair have added new routes, and competition among hotels has dropped prices by 30% in coastal towns like Lagos and Nazaré.

You can rent a studio apartment with a sea view in Algarve for $45 a night. A three-course meal at a local restaurant? $12. Public transport runs every 15 minutes. Even if you don’t speak Portuguese, you’ll find English everywhere. And the beaches? Clean, quiet, and completely free to access.

One traveler from Calgary booked a 7-day trip on February 1st-just 48 hours before departure-and paid $680 total, including flights, lodging, and car rental. That’s less than half what it cost in 2023.

Georgia (the Country): Culture, Mountains, and $20 Dinners

Not Georgia the U.S. state-Georgia the country, nestled between Turkey and Russia. It’s become a sleeper hit for last-minute travelers. Flights from Toronto to Tbilisi average $610 round-trip, often with a layover in Istanbul or Warsaw. The real win? The cost of living here is shockingly low.

A night in a boutique guesthouse in Tbilisi? $25. A bottle of local wine? $4. A three-course dinner with wine and dessert? $15. You can hike in the Caucasus Mountains for free, visit ancient monasteries with no entry fee, and ride the cable car to the Narikala Fortress for less than $1.

Visa-free entry for Canadians. No need to exchange currency-most places accept USD and euros. And because it’s still off the radar for most North Americans, you won’t see crowds. One Toronto couple booked a 10-day trip on January 28th and came home saying, “We didn’t spend more than $900 each.”

Bulgaria: Europe’s Best-Kept Secret

Bulgaria is quietly dominating the budget travel scene. Sofia, the capital, has direct flights from Toronto via Wizz Air, with fares as low as $480 round-trip. But the real value is in the Black Sea coast.

Varna and Burgas are packed with all-inclusive resorts that drop prices after January 15th. A 7-night stay at a 4-star resort with meals, drinks, and entertainment? $299 per person. That’s cheaper than a weekend in Niagara Falls.

Even if you skip the resorts, you can find private rooms in family-run guesthouses for $20 a night. A local lunch of banitsa (cheese pastry) and ayran (yogurt drink)? $2.50. The beaches are sandy, the water is warm enough in summer, and the history-like the ancient Thracian tombs-is world-class.

Mexico: Beyond the Resorts

Most people think of Cancún or Los Cabos when they think of Mexico, but those are expensive. The real bargain? Oaxaca, Mérida, and Puerto Escondido.

Flights from Toronto to Oaxaca are averaging $560 round-trip. You can rent a colonial-style apartment with a terrace for $35 a night. Street tacos? $1.50 each. A guided tour of Monte Albán, one of Mexico’s most important archaeological sites? $10.

And here’s the kicker: You can fly into Mexico City, then take a $45 domestic flight to Oaxaca. Many travelers do this to save $200 on airfare. The city is safe, walkable, and full of markets where you can buy handmade textiles for $10.

Why These Places Work for Last-Minute Trips

What makes these spots perfect for last-minute booking? Three things:

• High cancellation rates: Resorts and airlines in these countries know travelers change plans often. They drop prices aggressively to fill empty beds and seats.
• Low demand outside peak season: These places aren’t crowded in February. You get quiet beaches, shorter lines, and better service.
• Strong local economies: Prices are set in local currency, and the exchange rate is still favorable for Canadians. The Canadian dollar is strong against the Bulgarian lev, Georgian lari, and Mexican peso right now.

What to Avoid

Don’t waste time chasing “last-minute deals” in places like Bali, the Maldives, or the Caribbean. They’re expensive year-round. Even if you find a $300 flight, the resort fees, transfers, and food will double your cost.

Also avoid booking through third-party sites like Expedia or Booking.com for last-minute trips. They often mark up prices. Use airline websites directly, or try Skyscanner’s “whole month” view to see the cheapest dates.

How to Book a Last-Minute Trip in 3 Steps

1. Check flight prices on Skyscanner-set it to “flexible dates” and look for the green low-price days. Focus on Tuesdays and Wednesdays-they’re cheapest.
2. Go straight to the airline’s site. Book the flight. Then search for lodging on Airbnb or local booking sites like Booking.com (but only after you’ve locked in the flight).
3. Book refundable options. If your plans change, you want to get your money back. Most places in Portugal, Georgia, and Bulgaria offer free cancellation up to 24 hours before check-in.

Real Numbers: What a $1,000 Budget Buys

Here’s what a 7-day trip to Portugal looks like for $1,000 CAD:

That leaves you with $200 for souvenirs, a spa day, or a spontaneous ferry ride to the Azores.

Final Tip: Book Between January 20 and February 15

Travelers who wait until February 10th or later often miss the best deals. The sweet spot? January 20 to February 15. That’s when airlines and hotels start slashing prices to fill remaining spots before peak season kicks in.

Right now, the cheapest destinations are filling up fast. If you’ve been thinking about a trip, don’t wait. The next great deal might be gone in 48 hours.