- Travel experts warn holiday prices are set to soar by an average of 10 per cent
Families are facing a scramble for holiday discounts against a background of spiralling costs for hotels and flights.
Travel industry experts warn 2024 holiday prices are set to soar by an average of 10 per cent, potentially adding hundreds of pounds to a sunshine break.
Package holiday giants are set to launch annual price-cut deals from December 27, but industry experts warn that any bargains will be snapped up quickly.
Portugal and Turkey are seeing a rise in bookings, while Spain remains the nation’s favourite destination. Surveys by travel industry trade body Abta found that more people plan to take a foreign break in 2024 than in 2023 – up from 61 per cent to 64 per cent.
But it said cost of living pressures mean many are scaling back by booking cheaper accommodation (21 per cent), eating out less while away (17 per cent) and travelling to closer destinations (16 per cent).
Travel industry experts warn 2024 holiday prices are set to soar by an average of 10 per cent
Package holiday giants are set to launch annual price-cut deals from December 2 (Stock image)
Paul Charles, of The PC Agency, said: ‘Prices are rising by an average of 10 per cent for hotels, airfares and tour operator holidays yet we are still splurging, mostly to get away from bad weather.’
He added: ‘Airfares in particular have never been this high and there’s no doubt we’ve seen the end of the low-cost fare era.
‘The bulk of us booking will still be paying much more in 2024 than we did in 2023, due to higher costs and price rises put through by travel firms.’
Looking at the best time to book, he said: ‘Travel sales will start on December 27 and that’s when you’ll get some cheaper flights and better-value package trips.’
Abta said: ‘Europe is the No 1 choice for overseas trips next year (52 per cent), followed by North America (13 per cent) and Asia (9 per cent).’
It said there was a growing trend for holidays to be taken throughout the year, rather than concentrated in the summer holidays.
As a result, it predicts that May to June will be the most popular months for overseas breaks, slightly ahead of the July to August period.
It added: ‘Half of people say there will be no change in their holiday spend next year compared with this year, but numbers planning to spend more (28 per cent) are ahead of those looking to spend less, at 21 per cent.’
Wish you weren’t dear! Families race to bag holidays before prices soar for hotels and flights abroad