Package holiday prices rising faster than inflation, data finds
Will PayneThe price of a package holiday is rising faster than the current rate of inflation in the UK, according to new data.
TravelSupermarket data for a report on holiday costs revealed prices to popular destinations have risen in 2023, but so has interest in overseas travel.
The overall cost of holidays between 2022 and 2023 in the top five destinations has risen by nearly 12%, from £880.01 last August to £984.52 this year.
According to the Office for National Statistics (ONS), the CPIH All Goods Index rose by 9.7% in the 12 months to May 2023, down from 10% in April.
The average price for a package holiday to Spain in 2023 is £925.83, which is nearly 15% higher than last year’s average of £807.94.
Meanwhile, Turkey has seen average package prices jump by almost 10% year-on-year from £901.98 to £990.88.
Elsewhere, Morocco reported the sharpest price hike out of the destinations surveyed, with the average cost of a package trip in 2023 coming in at £959.31 compared with £755.32 in 2022 – representing a rise of 27%.
Richard Singer, chief executive of TravelSupermarket, said: "After a number of disrupted years of travel, there is no escaping that demand for holidays is high, as people look to book their much-deserved holiday.
"However, there are still some great holiday bargains out there, especially if you can be flexible on date of travel, duration or potentially trying a new destination, such as Turkey, which still represents great value."
Sign up for weekday travel news and analysis straight to your inbox
Supplier Directory
Find contacts for 260+ travel suppliers. Type name, company or destination.
Recommended For You
Latest travel jobs
Junior Africa Sales Consultant
Travel Consultant - Barrhead, Newtownabbey
Cruise Consultant, Glasgow
Competitions
Upcoming events
Place of registration: England and Wales.
Company number 08723341.
Registered address: 6th Floor, 2 London Wall Place, London EC2Y 5AU
