Inflation: Where Can I Still Travel Cheaply?

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Inflation doesn’t stop during the summer holidays either: Transport, service and groceries not only increase in Germany, but almost always in holiday countries. Travelers should expect a double-digit percentage increase in the most popular countries compared to pre-Corona times. This was shown in May by an analysis by the “HolidayCheck” rating and booking portal.

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It is significantly more expensive at holiday destinations

In Greece and Spain, travelers now pay an average of 16 percent more for comparable services than before the pandemic. There was a similar price increase in Portugal and Turkey. It is even more expensive in Egypt at over 27 percent.

The reasons are, on the one hand, a lack of staff and thus high salaries as well as a low supply, as some hotels did not survive the Corona crisis. On the other hand, there has recently been a significant increase in energy and food consumption costs, which also affect hotels and airlines.

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Three quarters of Germans therefore want to put the brakes on costs when planning their trip – cheap, go on little vacations or not at all. According to a survey by the auditing company PwC, almost 60 percent of people want to treat themselves to spontaneous city trips or concert tours less frequently.

Calvia: People enjoy the sunny weather on pedal boats in front of Palmanova beach in Mallorca.

After two Corona summers, the desire to travel is great. But the high inflation threatens to curb the strong desire to travel quickly, says Ingo Bauer, Head of Transport and Logistics at PwC. Because of the increased costs, says Bauer, people are questioning their spending more critically.

Where can I travel cheaply despite inflation?

56 percent of people want to reduce the number and duration of their trips. However, going on vacation entirely is not an option for most respondents. So if you want to have a nice vacation without spending a single cent, you can opt for a comparatively cheap shore vacation.

But which holiday destinations are suitable for this? To find out, this June Bank Austria examined how much the “holiday euro” of Austrian travelers is worth. It means the growth of the average purchasing power in a holiday destination, especially the value of goods and services in the holiday destination. The study also offers orientation for travelers in Germany.

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These countries are cheap

As a result, the value of the “holiday euro” in European destinations in 2022 remained roughly the same as in 2021. Hungary, Turkey and Croatia have the highest purchasing power for the Austrian holiday euro. Travelers get a lot for their money there (Hungary: 100 euros costs about 180 euros, Turkey: about 160 euros, Croatia: about 140 euros). People from Austria travel cheaply in Portugal (approx. 130 euros), Slovenia (approx. 125 euros), Greece (approx. 120 euros), Spain (approx. 120 euros) and Italy (approx. 105 euros).

Germany is exactly on par with Austria. France and Great Britain are slightly more expensive. 100 euros is only worth 90 euros in Canada and 85 euros in the USA.

The price level is particularly low here

The Federal Statistical Office (Destatis) came to a similar conclusion in an evaluation in February 2022. It determined price levels in 21 popular countries worldwide and compared the prices for restaurant and hotel services. The costs are particularly cheap compared to Germany (price level = 100):

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The price level of restaurants and hotels in popular holiday countries.

A big plus for beach fans: With the exception of North Macedonia, these countries, some of which are unknown as travel destinations, have access to the sea, often even for free.

In the traditionally popular holiday destinations of Spain (84), Greece (82) and Portugal (69), travelers can also get by cheaper when it comes to restaurants and hotels. Travelers in Italy pay only slightly less than in Germany (98). Holidays in Switzerland, Norway, Iceland and Denmark are particularly expensive.

According to Destatis, inexpensive holiday destinations outside of Europe are the Maldives (36.2), Mexico (44.8), the Dominican Republic (45.3), Mauritius (51.2) and Tunisia (71.4), where high flight costs are to be expected.

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Holiday in Germany: holiday apartment in Olpenitz.

Not only the price counts

According to Bank Austria, “opinions about the development of the pandemic and the current geopolitical crises, coupled with high inflation and soaring energy prices” are also affecting the travel behavior of people in Europe. The purchasing power of the euro abroad also plays a role here. The year plays a role in travel planning, but it is less crucial than the above factors.

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