1. Historians Head to Bucharest, Romania

If you're looking for affordable Europe destinations for less than $50 per night, try historic Bucharest, which lies on the banks of the mighty Dâmbovita River, about 70 km north of the Danube River. Bucharest is an interesting blend of neo-classical, Bauhaus, Art Deco and communist-era architecture, brimming with culture and art. Points of interest: Village Museum, Palace of Parliament, Cotroceni Palace.

2. Art Lovers Head to St. Petersburg, Russia

Next in line for affordable Europe destinations is St. Petersburg in Russia, where you can easily find 3-star accommodation for around $50 per night. St. Petersburg is one of the world's most beautiful cities, founded by Tsar Peter the Great on May 27th, 1703. Points of interest: Neva River cruise, UNESCO World Heritage Site Historic Center of St. Petersburg, the Hermitage, one of the world's greatest art collections.

3. Learn European History in Sofia, Bulgaria

It's easy to find 3-star accommodation for around $45 a night in Sofia, one of the most affordable Europe destinations this summer. A blend of natural beauty and old-world charm make Sofia a wonderful and educational place to visit. Points of interest: Alexander Nevsky Cathedral, Orlov Most Square, National Palace of Culture, Saint Sophia Statue, Church of St. George.

4. Colorful Kiev, Ukraine

Kiev offers travelers 3-star accommodation at ca. $46 per night. Although now may not be the best time to visit the Eastern Ukraine due to political unrests, be sure to earmark this affordable European destination for the future. The city's historic colorful houses and monuments are World Heritage Sites and not to be missed. Points of interest: St. Andrew's Church, statue of Bohdan Khmelnytsky, Golden Gate, Kiev Pechersk Lavra.

5. Nature Lovers Choose Sarajevo, Bosnia & Herzegovina

For around $50 per day you can stay in 3-star accommodation in beautifully restored Sarajevo. It is more than 10 years since the city was torn to pieces by civil war, but now most of Sarajevo has been restored and it is welcoming tourists with open arms again. Surrounded by dense forests and brimming with alpine lakes encircled by snow-capped peaks of the Dinaric Alps, it's a nature lover's natural choice. Points of interest: boat tour on Miljacka River, Cathedral of Jesus' Heart, Latin Bridge, Emperor's Mosque.

7. Market Day in Krakow, Poland

If you love shopping in historic market squares, you'll adore Krakow, which boasts the largest market square in Europe. At an average of $52 per day for overnight accommodation in a 3-star hotel, Krakow is very cheap indeed. 11th century Krakow was one of the very first World Heritage Sites to be chosen by UNESCO, although the city has been a human settlement since the Stone Age. Points of interest: St. Mary's Basilica, St. Peter and Paul Church, Wawel Castle, Main Market Square and Collegium Maius.

6. Eating Goulash in Budapest, Hungary

Since an overnight stay in a 3-star hotel will only cost you $51 per night on average, you can afford to splurge on a genuine dish of goulash in Hungary's capital. One of the most beautiful cities in the world, Budapest is also an incredible affordable Europe destination with regard to eating out, enjoying coffee house culture, tourist attractions and getting around. Points of interest: thermal baths, Liberty Square, House of Terror, St. Stephen's Basilica, Fisherman's Bastion, Margit Bridge, Buda Castle and cruising the Danube River.

Is this the year your European vacation dream will come true?