Wednesday 26 October 2016 10:14 am

Head to Paraguay, Serbia and the Czech Republic for a cheap bottle, Wine Price Index 2016 shows

The UK is the 24th most expensive place to buy a bottle of wine, with an average price of £10.70, a new index shows.

The latest research from SHAREaCAMPER looked at the cost of wine in 65 countries around the world, comparing local and imported averages.

Wine-lovers should head to Paraguay for a cheap glass of red, where the average bottle will cost you around £5.93. Other places with cheap wine include Argentina, New Zealand and Panama, and Malta, Turkey and Bulgaria if you're looking for somewhere a little closer to home for a low price tipple.

Read more: Heineken's net profit is down but beer sales are up

The top five most expensive countries to buy wine overall (and definitely to avoid for that beach holiday) were:

  1. United Arab Emirates – £30.64 a bottle
  2. Singapore – £30.27
  3. Maldives – £28.18
  4. Israel – £23.73
  5. South Korea – £22.93

The country with the most affordable local wine is Nepal costing an average of £4.07 a bottle, whilst the most expensive is Venezuela, at an average of £20.37 a bottle.

In terms of the amount consumed per capita annually, Luxembourg topped the table, swilling 61.3 litres, followed by Portugal, France and then Italy. Britain guzzled 24.6 litres per capital.

Wine-lovers have reason to be concerned about the booze after the vote to the leave the EU – suppliers have been announcing they will raise their prices due to a weak pound.

If a deal with the EU is not secured, wine imports could be subject to tariffs too.

*Note: All prices were calculated using the exchange rates accurate on 4 October 2016. Due to the plummeting pound, this may mean the UK import prices are slightly lower than they would be now.