Budapest has been named as the top choice for spending New Year’s Eve 2023 in Europe, according to a new study.   The study by NoDeposit.Guide analyzed various affordability and enjoyability factors in cities across Europe, which culminate to create the best night-out experience to ring in 2024 in style.

The study looked at the average number of the following available in the city, as well as their average visitor ratings: hotels, tourist attractions, restaurants, bars, and pubs and, importantly, the New Year’s Eve events which the city is hosting this year.

In addition to this, the study also took into consideration the average cost of hotel stays, the average meal cost, the price of public transport around the city, and the average cost of domestic and imported beer.

The above factors were all collated to form an index to rank the best cities across Europe to spend your celebrations – providing the top picks for people seeking last-minute getaway inspiration.

#1 Budapest, Hungary

Budapest has taken the top spot as the best destination in Europe to spend NYE this year. The city achieved an overall index ranking of 78.68 out of 100 – ahead of all other cities in the study.

The capital is clearly a great city break choice for anyone who is looking to party this NYE, as, according to the study, Budapest has the highest average bar ratings across Europe. The average rating achieved an index score of 10 out of 10 – equating to 4.54 out of 5 in TripAdvisor reviews across the 159 bars available.

And when it comes to the cost of a night out, Budapest is less likely to break the bank than other European city options, with the average cost of both imported and domestic beer estimated at only $2.86 per pint. The cost of imported beer commanded an index score of 9.94 out of 10 in the study – second only to Sofia, Bulgaria.

#2 Rome, Italy

The study found that ‘when in Rome’, you will be sure to have a memorable New Year’s Eve celebration as the city ranked second on the list of the best European city destinations this year – with an incredible index score of 77.62 out of 100.

Rome achieved a perfect score of 10 out of 10 for the number of hotels available in the city, topping every other city analyzed in the study – and achieved an average of 4.02 stars across the city’s 8,192 hotels on TripAdvisor.

Rome is not short on things to do this New Year’s Eve either – whether you want a trip ideal for socializing or prefer a quieter trip, taking in the city’s breathtaking culture.

The number of bars in the city scored an index rating of 9.46 out of 10, and similarly, the number of attractions attained 9.27 out of 10 – ranking Rome second and third in Europe on these factors, respectively.

#3 Barcelona, Spain

Coming in third in the ranking is Barcelona, which is the only non-capital city making it into the top ten. Beating the country’s capital, Madrid, which placed fifth, Barcelona achieved an overall index ranking of 74.34 out of 100 for its NYE experience.

Another city famous for its nightlife and, as identified by the study, a firm favorite among visitors. The number of bars available in the city scored an impressive 8.28 out of 10 in the index and a further 8.09 out of 10 based on their average TripAdvisor reviews.

Fancy a Spanish beer on your trip? The cost will only set you back an estimated $3.28 per pint in the city – ensuring the costs of your celebrations are kept low.

#4 Paris, France

The City of Love, Paris, has been found to be among the best European cities to celebrate NYE 2023 – achieving an impressive index score of 71.38 out of 100 and placing fourth on the list.

A trip to the French capital will ensure your itinerary is jam-packed, as the study found Paris to be second for the greatest number of attractions and restaurants across the cities in the study (9.73 out of 10 and 9.82 out of 10, respectively).

On New Year’s Eve, the city is set to host 29 public events across the city – scoring an index rating of 9.06 out of 10 and coming second in Europe only to London. Travellers will be spoiled for choice in the city on the big night!

But no need to cut the trip short, as the days after can be filled exploring the 4,646 tourist attractions the city has to offer (as found on TripAdvisor).

#5 Madrid, Spain

The Spanish capital, Madrid, rounds out the top five European cities to spend New Year’s Eve this year – gaining an overall index rating of 70.50 out of 100 in the study.

The study found that visitors would not be short on options for places to eat and drink. Madrid scored impressive index ratings of 8.91 out of 10 and 8.51 out of 10 for the number of restaurants and number of bars available to try.

If that’s not enough to entice you to the Spanish city, the average price of a ticket on public transport is only $1.64 (one-way), as found by the study, meaning your money can go further when exploring the city and all it has to offer.