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Monthly Holiday Price Index - March 2024

Ian Raine May 10th, 2024 191 views


Holiday Prices Rise Slightly Year on Year

Following on from the February Holiday Price Index, where the typical price of a holiday fell by over 2% compared to February 2023, prices are 3% higher in March YOY. This is in stark contrast to March 2023, when prices increased by a massive 52% due to the COVID bounce-back. Analysis of over 66 million holiday prices by Cheeky Trip also found that both last-minute holidays (+3.9%) and holidays departing in 6 months (+3.8%) were pretty aligned with this trend.  

All Destinations Graph March 2024
All Destinations March Yearly Price Comparison. Picture Credit: Cheekytrip

Holidays Departing in One Week Graph
Holidays Departing In One Week Comparison. Picture Credit: Cheekytrip

Holidays Departing in Six Months Graph
Holidays Departing In Six Months Comparison. Picture Credit: Cheekytrip

Short-haul holidays increased by 4% whereas long/medium-haul trips actually decreased in price by over -9% YOY. However, some short-haul destinations bucked the trend and experienced price decreases (Mainland Spain 5% and Malta 7%). Prices to Mexico (-11%), Egypt (-16%), and Cape Verde (-28%) experienced significant price decreases compared to March 2023, following a similar trend to last month’s index. In contrast, holidays to the Caribbean increased by a modest 3%. 

Short Haul Graph March 2024
Short Haul March Yearly Price Comparison. Picture Credit: Cheekytrip

Long Haul Graph March 2024
Long Haul March Yearly Price Comparison. Picture Credit: Cheekytrip

“What we are seeing this year is a little more stability in overall average pricing, but once you delve a little deeper, there are still some wild fluctuations depending on the destination,” says Steve Campion, Managing Director at Cheeky Trip. “This could be influenced by seasonal variations, supply and demand, and world events such as the troubles in the Middle-East are likely continuing to influence demand for holidays to Egypt,” continues Steve.


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