According to the Daily Mail holidaymakers spend an average of £278.92 per person for a one night stay in the city while second place on the list was taken by New York where each visitor is said to spend around £256.80.
The study was conducted by Hoppa, an airport transfers booking service.
the prices were calculated by taking into account six things Brits buy on holiday, these include: a pint of beer, cup of coffee, meal for two, a bottle of wine, taxi fares and a hotel room for one night.
Dubai is home to some of the most luxurious and expensive hotels in the world and a five night stay for two in the city is likely to cost an average of £2,800.
At the other end of the spectrum was Budapest, which had the cheapest hotel rates of all the countries profiled with it costing just £23.23 per person, per night.
Although London came sixth in the overall list it came in second place when considering the cheapest and most expensive places for a meal for two.
New York took the top spot with a meal in a restaurant for two costing £54.93 while it would set you back £50 in London.
Wine fanatics should head to Faro in Portugal and Budapest for a good value bottle of plonk. It will cost you £3.54 and £3.57 in Faro and Budapest respectively.
Affordable winter sun holidays
Dubai named world's most expensive tourist destination
For a warm winter break in Europe, head for Malta where temperatures rarely fall below 15C and you can enjoy the city of Valletta and the Maltese islands in a relaxed setting you won't find in the summer months. Explore the cobbled streets and sun dappled squares of Valletta, go hiking in the countryside and explore the beautiful coves and beaches without the crowds. easyJet Holidays offers a seven-night holiday at the three-star Blue Sea St George's Park & La Vallette Resort in the town of St Julian's, just north of Valletta, for £289 per person, based on a 4 February 2016 departure from Gatwick.
Ideal for a short city break or week-long holiday, Morocco's Red City is the place to go for an exotic winter shopping trip in winter. Just under four hours from the UK, Marrakech has plenty of sunshine, temps of up to 18C and an exciting culture to explore. lowcostholidays.com offers seven nights in Marrakech from £155 per person, based on a 20 January 2016 departure from Stansted and a B&B stay at four-star Blue Sea Marrakech Ryads Parc and Spa in La Palmeraie.
Bali is a top long-haul winter sun destination for a bargain, where 10 holiday items including an evening meal, sun cream, a bottle of water and glass of wine can cost just £40. The spectacular Indonesian island boasts kilometres of powder soft sand, swathes of lush rice paddies and an engaging native culture. Travelsupermarket compares holidays to Bali and has found a seven-night holiday to Bali with ebookers staying at the four-star Umalas Residence on a room-only basis from £556 per person, based on 22 February 2016 departure from London Gatwick.
The Caribbean is a classic winter sun destination offering sunshine, a laid-back island vibe and some of the best beaches in the world. While it's a go-to place for luxury travellers and may not be the first destination you think of for a cheap getaway there are plenty of affordable options. A cruise, for example, allows you to take in not one, but a number of islands and covers your travel, accommodation and food costs so you only have to spend on souvenirs! P&O Cruises offers a 14-night Caribbean fly-cruise visiting nine islands (Barbados, Aruba, Grand Cayman, Ocho Rios, Amber Cove, Tortola, St Maarten St Lucia and Dominica) from £1,329 per person in February, including flights from various UK airports, full board accommodation, entertainment and round the clock kids' clubs.
For a family-friendly getaway in the sun, look no further than Portugal's Algarve, where you can enjoy cultural festivals, sandy beaches and winter sunshine. The 16C winter temperatures make the Algarve ideal for outdoor activities, such as hiking, golfing and kayaking. Don't miss a day at the beach as winter is the best time to see the coastline's natural beauty without the crowds. On the Beach offers a seven-night holiday at the three-star Club Dos Arcos Apartments, including flights from Stansted on 17 January 2016 and B&B accommodation from £114 per person.
For a touch of the exotic and temperatures of up to 25C during the day, head for Red Sea destination Eilat in Israel, where you can swim with dolphins, go on a Jeep tour in the mountains and relax at the beach. Monarch offers a seven-night holiday to Eilat from £448 per person, including a stay at the three-star Astral Palma in a junior suite on a B&B basis and return flights from Luton on 21 January 2016.
Looking for an affordable week in the sun somewhere off the beaten path? The Cape Verde islands are located 500km off the coast of West Africa and share African and Portuguese influences. They're not as touristy as the Canary Islands and have gorgeous beaches in Sal and Boa Vista. Cape Verde is also a paradise for surfers, hikers and divers. Sunshine.co.uk offers a seven-night holiday at the Pontao Hotel for £450 per person, including flights from Gatwick departing 13 January 2016 and half-board accommodation.
Think Canaries, think bring on the Full English? Think again. Lanzarote, an island of brooding volcanoes, has managed to contain its tourist development, allowing its natural beauty to break through. Black volcanic fields, deep green cacti, whitewashed cottages: it’s a landscape to gladden the cool designer’s eye. December may be the beginning of the rainy season but don't let that put you off! The island experiences less than 20 days of rain in an entire year. Stick to the south for warm sunny days on the beach. lowcostholidays.com offers seven nights at three-star Blue Sea Costa Teguise Gardens on a B&B for £223 per person based on 11 Jan 2016 departure.
With average temperatures of 32C across the winter months and soft sandy beaches, Goa is the ideal destination for escaping the cold and discovering a new culture. Visit the exhilarating local markets stacked with spices and silks, relax on the vast sandy beaches lapped by the Arabian Sea and explore the unique local cuisine. Head to Central Goa for water sports and diving, North Goa for the lively atmosphere and nightclubs and South Goa for spotless white sand, baroque churches and bazaars. Monarch offers a 14-night holiday at Palmarinha Resort in North Goa for £615 per person, departing Gatwick on 28 February 2016.
Want winter sun without the long-haul flight? Cyprus is an excellent choice for warm temperatures (20C), sightseeing and gorgeous beaches. Nature lovers will be in their element throughout the winter months when the landscapes are lush and green. You can visit the Troodos National Forest Park, enjoy a camping holiday and go strawberry picking. Limassol boasts quiet beaches, fascinating historical attractions and museums, while Paphos is known for its ancient ruins, unspoilt beauty and bustling centre. easyJet Holidays offers seven nights at the luxurious Amphora Hotel & Suites in Paphos for £239 per person, based on a 2 February 2016 departure from Gatwick.