It's classic supply and demand. Sales are down, so prices have come down, meaning that ultimately, the customer is the winner
(PRWeb UK) July 26, 2010
A study out this week has shown a dramatic decrease in the cost of package holidays in the past year. On average, the price of package holidays to the top twenty destinations for British holidaymakers has seen a 13.5% reduction, an average saving of £232. Many destinations have seen huge reductions. For example, based on a family of four holidaying for a seven days, Sharm el Sheikh holidays have come down £428 on average compared to 2009 prices, dropping from £2,193 to £1,768, nearly a 20% reduction.
“It’s classic supply and demand. Sales are down, so prices have come down, meaning that ultimately, the customer is the winner,” says Luke Nathan of travel consultants Travelsoon.com. “At the same time, many cost-conscious holidaymakers are leaving their booking till the last minute, creating a highly competitive late deals market that keeps prices suppressed.”
The survey conducted by Co-op Travel has found that holidays to Egypt, the Greek islands and the Balearic islands have seen the biggest drops in price. Paphos package holidays have seen the single biggest reduction, with prices being slashed by 34% on average.
“These kinds of reductions end up having a huge impact on the landscape of the travel industry,” continues Nathan. “Combined with other factors like the strong Euro, non-Eurozone countries like Turkey and Egypt are reaping the benefits. Even packages that offer holidays in Hurghada are now outranking once-strong resorts in the likes of Spain and France.”
Spain and France have seen significant drops in the number of British visitors, while non-Eurozone countries have seen a steady increase in holiday bookings. France dropped from 11 million visitors annually to 9.8 million, while Spain saw 13.5 million reduced to 11.5 million. As a result, industry experts are predicting a major realignment of the global holiday industry in the next few years.
Travelsoon.com is one of the leading travel consultancies in the country, specializing in tailor made and package holidays for our new and established client base. With offices in Romford, Essex, as well as Central London, Travelsoon works in conjunction with some of the leading tour operators to provide solutions for all manner of our client’s holiday requirements. Travelsoon’s commitment to consumer satisfaction means that our staff is mindful of the customer experience as a whole, and implements the most up to date technology and systems to ensure their needs are met and exceeded. Our consultants are dedicated to establishing and cultivating relationships with our partners as well as our customers to ensure their holiday stay is unforgettable. Praised for their innovation and creativity, the firm employs over 100 staff and our market share grows from strength to strength.