Local price falls and the weakening of the South African rand have brought costs down for UK visitors by 12% since autumn 2023, Post Office Travel Money said.
This makes Cape Town the best value out of 32 resorts and cities analysed in the annual study for the first time since 2018.
Typical prices include £1.63 for a cup of filter coffee, £1.81 for a bottle of local beer, and £33.31 for a three-course evening meal for two with a bottle of house wine.
Tokyo, Japan, was be the second best value long-haul destination, followed by Vietnam’s Hoi An, which took top spot last year.
At the other end of the scale, Sydney, Australia, was the most expensive, with tourist staples costing nearly three times more for UK visitors than in Cape Town.
A surge in sterling’s value against most long-haul currencies means that UK holidaymakers planning winter sun breaks can expect to pay less than a year ago in more than half of the destinations surveyed.
Laura Plunkett, head of travel money at Post Office, said: “Our research revealed wide variations in the cost of tourist staples across the 32 destinations we surveyed.
“Holidaymakers could save themselves a lot of money and make a big difference to the overall cost of their winter sun trip by doing some basic holiday homework before booking to find out where meals, drinks and other staples are going to cost the least.”