Being just over a two hour flight away and promising temperatures that strike the perfect balance between comfortably warm and unbearably hot, Spain has continued to be one of the most popular destinations for British holidaymakers over the years.

With everything from all-inclusive deals to private apartments and seafront villas on offer, it seems that there is something for everyone in the Mediterranean country - and Brits appear to be enjoying it more than the rest.

That's according to figures published by Egatur and prepared by the Ministry of Industry, Energy and Tourism, which revealed that tourists from the UK spent a combined total of €7.7 million (£6,184,847) on Spanish shores in the first eight months of 2012 - a 6.7 per cent increase on the amount witnessed during the same period in 2011.

While this may not mean a huge amount when taken out of context, what it shows is that British holidaymakers are spending more money in Spain than tourists from any other part of the world.

"It's no surprise that foreign spending has increased in Spain this year particularly among British tourists who have been bagging more for their buck considering the strength on the pound over the euro," said Marc Pritchard, sales and marketing manager at Taylor Wimpey Espana.

As well as Brits splashing the cash in Spain, it turns out that the Germans have been getting in on the act too, accumulatively spending just over €6 million (£4,816,458).

Yet as Britons spend more money on Spanish shores than any other tourists due to the strength of the pound, it's also likely that property investors from the UK will be on the lookout for a bargain villa if they've been thinking about buying a holiday home.

And for anyone contemplating such a purchase, it's important to remember that there is not only the exchange rate to take into account, as securing finance and selecting an appropriate second home insurance policy will also be vital.