Holidays to cost 10-15% more

Hoteliers sign contracts with tour operators containing price hikes that average at 12%

Holidays to cost 10-15% more

Greek hoteliers have signed contracts with major foreign tour operators with price hikes between 10% and 15% for the 2023 season.

These increases, which average around 12%, concern holiday packages sold in major European countries such as Germany and the United Kingdom by tour operators such as TUI Group, Der Touristik, Apollo, which specializes in the Scandinavian markets, Seniorenreisen (Austria), Ideal Tours, Springer Reisen and others.

Despite the rise in prices, which comes as a logical effect of inflation and the strong demand for vacations in Greece, major tour operators estimate that they will be able to sell even more packages this year, market sources tell Kathimerini. Hikes vary from destination to destination, depending on the popularity they command among European markets.

However, the price increases for direct bookings made by travelers are even greater and in some cases even exceed 100%, the same sources add. So while the total cost of a package holiday for a family that wants to travel from Britain or Germany to Greece appears significantly increased, due to the parallel increase in the cost of passenger air transport, the mood for travel this year remains strong and in some cases stronger than that of 2022.

Still, a reduction in the length of vacations is expected, as the drop of European households’ disposable income from inflation will limit 2023 summer holiday budgets.

According to a PwC survey on a sample of 1,000 Germans aged 18 to 65, the disposition to spend less on vacation has declined slightly compared to the corresponding survey carried out in the spring of 2022. However, over 70% of those who take package holidays are thinking of spending less money while away or taking a shorter vacation. 

There are similar signs from the British market, but these findings are worrying neither the large tour operators nor the Greek hoteliers in particular, as the booking demand for holidays in Greece is such that it will allow the available days to be covered by other travelers.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.