The Malaysian capital of Kuala Lumpur has the cheapest average accommodation costs worldwide, while Monte Carlo is calculated as the most expensive.

London was found to be 15th most costly for overall stays in a study of overnight accommodation in more than 200 cities.

Online booking platform Campsy compared the price of hostels with various grades of hotels and peer-to-peer accommodation services such as Airbnb and Homeaway.

Hostel prices in Kuala Lumpur were found to start at £6.29 a night with peer-to-peer rooms at £48.61 compared with a room at a five star hotel at £220.05.

London hostel rates started at £20.67 with per-to-per rooms costing from £165.46 and a five star hotel stay at £1,037.97.

A night in a hostel in Monte Carlo worked out at £23.88 with peer-to-peer rooms at £162.90 but five star hotel accommodation costing £2,136.50 a night.

The cheapest campsite was found to cost £5.97 a night in Hamburg with the most expensive in Ticino, Switzerland at £44.35.

The least expensive cities after Kuala Lumpur were Skopje in Macedonia, Tirana in Albania, Antalya in Turkey and Sofia in Bulgaria.

The most expensive after Monte Carlo were St Tropez, Reykjavik, San Francisco and New York.

Campsy chief executive, Philipp Hillenbrand, said: “Though the bulk of travel takes place on a city-to-city basis, we are passionate about encouraging travellers to step outside urban areas and seek the unique experiences that nature has to offer.

“We hope that our research empowers readers to gain more from their holiday budget this summer, and perhaps encourage camping as their accommodation of choice.”