Holidaymakers spent almost a fifth more for their summer break than before the pandemic.
Travel company TUI has reported that its average selling prices this summer were 18% higher than in summer 2019, as people splashed out on holidays after the pandemic disruption of the last two years.
This trend has continued into the winter – where average prices are 26% higher than in winter 2018/19. The Canaries, Mexico, Egypt and Cape Verde are all popular destinations this winter, despite the cost of living crisis.
TUI’s CEO, Fritz Joussen, and CFO, Sebastian Ebel, told shareholder that it was a “strong travel summer”, with many holidaymakers plumping for more expensive, or longer, breaks.
“The trend has been towards higher value or longer holidays with a higher overall holiday budget. This is encouraging and shows the current importance of holidays and travel experiences in the post-Corona era.
“Our strong brand, exclusive product portfolio with proprietary holiday experiences at hotels, clubs and cruise ships, and strong presence in destinations are competitive advantages that will continue to pay off and that we are building on.”