Particularly affected by the rising prices for holiday are families with children. Research by Travel Supermarket has found that all inclusive deals for the most sort us after destinations for Brits, including Cyprus, Portugal, Greece, Turkey and Spain have got up by nearly 12% with the average price across the top five Mediterranean destinations rising by more than 30% compared to before the COVID-19 pandemic.
Demand from travellers is said to the main reason for increasing prices however rising local prices for staff and other items like food and drink are also stated to be adding to costs.
Demand from travellers is said to the main reason for increasing prices however rising local prices for staff and other items like food and drink are also stated to be adding to costs.
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NewsTranscript
00:00 The price of holidays is entirely dictated by supply and demand. At the moment we're
00:09 still slightly below the number of airline seats that we had before Covid, and yet we
00:16 are desperately wanting to make up for lost sunshine, lost city breaks, lost adventures.
00:21 So therefore we are demanding travel. There isn't enough of it to go round, and guess
00:27 what happens? The prices go up. Peak summer airfares in Europe are likely to
00:32 rise by as much as 10%. That's according to Ryanair chief Michael O'Leary. He says the
00:38 airline may have to trim its summer schedules, which were built around the expected delivery
00:44 of 57 Boeing Max 737-8200s. That the airline has on order.
00:51 Quality control issues at Boeing, highlighted by the blowout of part of the fuselage of
00:57 an Alaska Airlines Max 9 mid-flight last month, have led to a slowdown in deliveries and production.
01:06 And on top of that, we've also got Airbus have a problem with some of the Pratt & Whitney
01:12 jets that are on their aircraft, and so those are having to be overhauled just at the time
01:17 when they should be flying holidaymakers off to the sun.
01:21 Heavily affected by the rising prices for holidays are families with children. Research
01:25 by Travel Supermarket has found that all-inclusive deals for the most sought-after destinations
01:31 for Brits, including Cyprus, Portugal, Greece, Turkey and Spain, have gone up by nearly 12%,
01:38 with the average price across the top five Mediterranean destinations rising by more
01:43 than 30%. Increased demand from travellers is said to
01:47 be the main reason for increasing holiday prices. However, rising local costs for items
01:53 such as staff and food and drink are also stated to be adding to those costs.