With the pound and the euro now at virtual parity, the plummeting rate of exchange spells doom for many British holidaymakers this winter. Now many skiers, in particular, are looking to cut costs by travelling to slopes outside the euro zone - and that means that Bulgaria could well benefit.

Jonathan Brown and Kristina Backer, writing in British newspaper The Independent, report that the plunging value of the pound against the euro means that the French Alps, the destination of choice for four out of 10 skiers last winter, is no longer flavour of the season. Some estimates suggest that as many as three-quarters of skiers and snowboarders are looking to cut costs by venturing elsewhere.

The Independent also says that America's slopes have been struck off many British skiers' itineraries in the wake of a year of soaring aviation fuel costs. The article quotes ski writer and researcher Patrick Thorne as saying: "Talking to a few of the operators going to America, no one is putting any figures on it but it does look grim because the dollar is so strong and because of the credit crunch."

The paper goes on to say that eastern Europe's so-called new frontier - Bulgaria in particular - offers better value for money than either the traditional European favourites or America.

"In Bulgaria's top resort of Bansko, a week's half-board in a four-star hotel, is a third cheaper than three-star accommodation in the French retreat of La Clusaz. But it is when you take off the skis that the savings really pile up. A three-course meal in Bansko sets you back six pounds per head while a bottle of beer costs 80 pence. At La Clusaz the same dinner and a beer would leave you 20 pounds poorer."

The article quotes Betony Garner from the British Ski Club as saying that countries outside the euro zone are a more alluring proposition this winter. "They are particularly attractive to families who want to take young children for the first time. For beginners, the terrain is not as extensive as France or Austria but places such as Bulgaria are offering a good low cost alternative."