Bulgaria's Borovets resort is the cheapest ski holiday destination, with prices for equipment and accommodation half of what travellers would find in Vail, Colorado, according to Post Office Travel Services.
Poiana Brasov in Romania and Kranjska Gora in Slovenia were also found to be "significantly cheaper" than well-known resorts in Switzerland, France and Austria.
Helen Warburton, head of travel services at Post Office, warned, however, that price is not the only thing people think about when planning a ski holiday.
"It's important for ski holidaymakers to pick a resort that suits their expertise and matches their expectations," she said.
"For those people and for bargain hunters, Bulgaria and Romania represent excellent value."
However, those wanting to travel further afield can always try Canada, where resorts such as Whistler regularly entice all types of winter sports lovers.
The news comes after the Association of British Travel Agents reported that France had overtaken Austria as the most popular skiing destination in Europe.
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