Sun seekers are turning to package holidays in Europe as soaring hotel and flight prices revive demand for the all-inclusive deals that had fallen from favour, bolstering the balance sheets of some travel companies. The combination of a cost-of-living crisis and disruption from strikes and glitches has added to the appeal of a fixed-price package without unexpected add-on costs and easier redress when things go wrong. After years of travellers using the internet to compile their own itineraries, travel analysts say a trend of buying a ready-made package that began last year has accelerated this summer, the busiest for travel since the pandemic. FILE PHOTO: People cool off at the Mediterranean Sea on La Malagueta beach on a hot summer day in Malaga, Spain, July 27, 2024. REUTERS/J...
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The post-pandemic travel boom and the high ticket prices that come with it show no signs of slowing well into next year, despite economic uncertainty and dwindling household savings. While questions linger about how much longer consumers will continue to indulge, airlines, hotels and analysts say travel has remained a top priority instead of the "nice to have" purchase as in years past. International travel reached around 90% of pre-pandemic levels this year, according to the International Air Transport Association. The rebound was led by visitors to Southern Europe from cooler climates despite soaring temperatures and included swaths of American tourists flying overseas. FILE PHOTO: Passengers walk next to check-in counters at the O.R. Tambo International Airport, in Johannesbur...
Read MoreWith summer well underway, travelers are experiencing what could be the most expensive summer travel season. Inflation Leads to Record Traveler Spending In a recent survey of over 4,000 travel insurance customers in US, 73% of respondents said that they were more concerned or equally concerned about protecting their trip costs this summer compared to previous years. With more than half of surveyed travelers stating they're having to spend more on travel, Squaremouth reports the highest average trip cost in company history. So far this summer, travelers are spending more than $7,800 on average per trip. The cost of international travel, specifically, is up 25% from last year, leading many travelers to seek out destinations that are more affordable. Most Affordable Summer...
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