Lake Sevan in Armenia has been included in Mastercard's list of the most incredible — and affordable — undiscovered holiday destinations in Europe.

The list of 44 under-the-radar destinations was compiled using information from local travel bloggers and tourism experts, as well as Mastercard data. The places were ranked according to beauty, crowdedness, cost of stay, convenience, and, of course, card payment acceptance.

"The Sevanavank monastery is a must-visit, offering amazing views of the beautiful Lake Sevan, one of the largest high-altitude freshwater lakes in the world," Mastercard says.

"Despite its beauty, tourism in Armenia is not highly developed, and prices remain low. A meal out will cost approx. €10, and accommodation still remains under €20."

Also included in Mastercard's list are the Salzkammergut region in Austria, The Azores in Portugal, the town of Perast in Montenegro, Cape Kolka in Latvia and four dozen other places.