They are the kind of dream destinations that most of us consider the ultimate in indulgence, but can you get to the stars of the Indian Ocean and still have change from £1,000?

The answer is yes, especially if you choose your destination and dates carefully. Sri Lanka is the best value by far, both in terms of package deals and independent travel. The Maldives can leave you on speaking terms with your bank manager, but you may have to dig deeper into your pockets for a trip to the Seychelles or Mauritius.

All wrapped up

Thanks to the buying power of the tour operators, you are likely to save money on more exclusive destinations such as Mauritius and the Seychelles by opting for a package, although spending less than £1,000 can be a challenge.

Direct-sell operator Indigo Holidays (0870 112 2333) can get you to a beach resort on the Seychelles, however, for £749 for five nights, and for £945 you could have five nights' B&B at the four-star Coco de Mer on low-key Praslin island (extra nights £78), departing between 8 January and 10 April.

Families could head for Paradise Island in the Maldives, one of the livelier resorts, where there's a choice of restaurants and bars, several beaches with watersports, and nightly entertainment. Thomas Cook Holidays (0870 443 4470) offers seven nights' half-board there for £999 per person departing between 11 January and 28 February.

Pay up front

Don't assume you can save money by choosing a B&B deal. Some of the tinier islands in the Maldives consist of a resort and nothing else, so you will be unable to shop around for meals. An all-inclusive deal may save you money, especially if it includes watersports and excursions as well as food and drink. Be sure to check this kind of information before you book.

Last-minute

If you don't have to book months ahead, there are bargains to be had. Kuoni, for example, rounds up unsold seats and accommodation each month and offers it at a discount in its Limited Editions brochures, available at travel agents or by calling Kuoni (01306 747000). Offers include six nights' B&B at the Riverina Hotel in Sri Lanka, departing on 6 December, for £559 per person, based on two people sharing. Or you could leave for a seven-night half-board stay at the Mont Choisy Hotel in Mauritius on 13 December for £889 per person, again based on two sharing.

Take a raincheck

You'll pay less if you don't mind getting wet. There'll be a big difference in prices between September, say, in Mauritius, when there average rainfall is 2in per month, and January and February, when 10in could put a dampener on things. But do your homework - seasonal temperatures, rainfall and humidity vary enormously around the region. Wettest months are November and May in Sri Lanka; September-December in the Maldives; and December and January in the Seychelles.

Do it yourself?

While Mauritius and the Seychelles are successfuly positioning themselves as upmarket, package-based resorts, it's worth considering going it alone to the Maldives and Sri Lanka.

Trailfinders (020 7938 3939) quotes £654 return to Colombo with Sri Lankan Airlines, including a stopover at Male, in the Maldives, for departures before 9 December. Even cheaper is a £391 flight with Royal Jordanian Airways via Oman, for departures between 25 December and 31 March. There is plenty of good quality, reasonably priced accommodation in Sri Lanka - Trailfinders quotes £52 per night for a double room, including breakfast at a four-star beachside hotel, for example.

You could fly from the UK to the Maldives with Qatar Airways via Doha for £467 return until 12 December or from 1 January to 9 April, but you'd be hard pressed to find a double room for less than £70 a night, full board.

Take your backpack

Well, yes, but where would you put it? A flight to Mauritius would set you back about £600 and there are very few cheap places to stay.

So budget travellers could find themselves going it alone - literally. You'd be better off heading for Sri Lanka, where there's a much wider range of accommodation, with a bed in a backpacker hostel from as little as £3 a night.