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Monthly Holiday Price Index - October 2023

Ian Raine November 24th, 2023 808 views


Long Haul Holiday Price Increases Start to Slow

Holiday prices increased by 11.7% year-on-year during October according to analysis of 66 million holiday deals by Cheeky Trip.

All Destinations - October Year on Year Graph

Short haul holiday prices increased by 13% overall, compared to October 2022 prices. The biggest price increases were evident to the Canaries (+34%), the Balearics (+20%), and Greece (+20%), whereas prices to Bulgaria remained flat. However, there are positive signs that price rises are slowing in some areas - typical prices to long haul destinations (over 6 hours flight from the UK) increased around 5% on average. In particular, holiday prices to Mexico were only 1% more expensive than in October 2022.

There were sizeable price decreases to a few destinations. Holiday prices to Egypt dropped 14% compared to October 2022, which could be a reflection of the conflict in Israel suppressing demand. Holiday prices to Cape Verde fell even further - by almost 30%.
 

Short Haul Destinations - October Year on Year Graph

Long Haul Destinations - October Year on Year Graph

The monthly holiday price index also tracks the price of last minute holidays, which also increased in price by just 5% year on year in October compared to the 13% increase in October.
 

Last Minute Holidays - October Year on Year Graph

Last minute prices are unsurprising given that they likely reflect the time of year as November and December is typically a low demand time to travel. However, it is great to see long haul prices levelling off somewhat compared to last winter, especially to popular winter sun destinations such as Mexico,” says Steve Campion, Managing Director at Cheeky Trip. “And for those looking for a winter sun bargain - there are plenty of options. Cape Verde offers guaranteed winter sun. And the foreign office travel advice states that it is safe to travel to Egypt, so bargain hunters could benefit from checking out deals to tourist hotspots such as Sharm El Sheikh and Hurghada, which are hundreds of miles away from the border,” continues Steve.


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