Trapped timeshare owners stuck with yet more expenses as holiday costs soar for popular destinations.
30% increase from pre-pandemic prices.Total holiday costs across the top five destinations for Brits (Spain, Turkey, Greece Portugal and Cyprus) have risen by almost a third since 2019. This is considerably higher than general inflation.
2023 has seen year-on-year increases of 12% in Turkey, 21% in Mallorca, 22% in Tenerife and 25% in Crete. Prices for further afield countries have risen too according to the BBC. A week in Bulgaria is 13% more expensive than last year, while Morocco has risen by 27%.
Costs in these holiday hotspots for food, drink, accommodation, excursions and other expenses have risen so much that the total holiday price is now beyond reach for many families.
Inventive holiday adjustments
Travel industry insiders report that people are adapting their holidays to save money. For example cutting down their holiday length from two weeks to one.
"We're seeing an increase in multi-generational holidays," says Lancashire based Preston Travel Centre spokesperson Sandra Ollerton, "because we're finding that some of the grandparents weren't affected as much financially by COVID or the cost-of-living crisis, so they are helping out their children and their grandchildren."
Which Magazine and Travel supermarket report the following additional measures being taken by holidaymakers in 2023 to keep costs down.
Choosing a cheaper location. A UK holiday eliminates travel and currency costs, but overseas destinations vary a lot tooTravelling outside the school holidays when possibleBooking early, especially when forced to travel at peak timesTaking advantage of cheaper mid-week flightsHaggling with the travel agent to see if they can beat the price published onlineAltering destination choices to where the value of the pound is (relatively) stronger. In 2023 that includes Turkey, Bulgaria and Portugal.
Source: Timeshares Advice Center
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