January 25th 2025.
Summer is just around the corner and you may already be daydreaming about your perfect getaway. But before you start packing your bags, be warned - it might end up costing you a pretty penny. From flights to activities to accommodations and even a few indulgent cocktails, the expenses can quickly add up and leave you feeling like your summer trip is more of a luxury than a necessity.
In fact, new research has revealed that the cost of the average European package holiday has skyrocketed, surpassing even inflation rates. By analyzing the prices of over 8,000 European package holidays, consumer group Which? found that bookings made in January 2025 for an August 2025 trip were up to 11.5% higher compared to bookings made in January 2024 for an August 2024 departure. This increase in prices can be attributed to a variety of factors, including high demand, rising energy costs for hotels, and capacity constraints on airlines.
While popular destinations like Spain and Turkey may come to mind when thinking of package holidays, it may come as a surprise that the Black Sea coast of Bulgaria has seen the sharpest rise in prices over the last 12 months. The average cost for a seven-day holiday per person has increased by 11.5%, meaning a romantic getaway for two would cost an average of £238 more compared to the previous year. Ouch.
But Bulgaria is not the only destination experiencing a surge in prices. Italy, Portugal, and Cyprus have also seen substantial increases of 7.4%, 6.8%, and 6.4% respectively. The overall average across all 8,000 locations surveyed was 4.2%, which is significantly higher than the UK's Consumer Prices Index measure of 2.5% and the euro area's inflation rate of 2.4%.
However, there is still hope for budget-conscious travelers. Popular destinations like Ibiza and Tenerife have actually seen a decrease in prices, with package holidays dropping by 6.4% and 2% respectively. Rory Boland, editor of Which? Travel, advises booking early to secure the best rates, and suggests traveling in the last week of the summer holidays for the cheapest prices.
When it comes to booking flights, there is a common belief that Tuesday is the best day to find cheap deals. This is because airlines often release sales on Monday nights or Tuesday mornings. While recent data from Google Flights supports this theory, showing Tuesday to be 1.3% cheaper than Sunday, there is no guarantee that booking on a Tuesday will always result in the best deal. Airlines use dynamic pricing, which means fares can change based on demand and time left before departure, making it difficult to predict the cheapest day to book. However, travel deals website Kayak found that Tuesday is often the cheapest day to travel, followed by Wednesday.
So, before you start planning your summer escape, keep in mind that prices are on the rise and booking early is your best chance at securing a good deal. And who knows, perhaps you'll discover a hidden gem like the Black Sea coast of Bulgaria or snag a cheap flight by booking on a Tuesday. Happy travels!
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