Despite prices soaring by more than a quarter above pre-pandemic levels, people are booking summer holidays in droves, according to travel group Tui. The

German-based package holiday group has reported that summer bookings have already increased by 13% compared to last year and are up 10% in the UK from pre-pandemic levels. The company also revealed that revenue has surged by nearly 50% over the first three months of the year to £2.7bn from £1.8bn in 2022.

Tui said that holiday-goers are flocking to Spain, Greece, and Turkey this summer, while people enjoyed winter sun escapes in Egypt and Cape Verde. Although the average selling prices for summer holidays are 26% higher than pre-pandemic levels, booking levels are the highest in the UK, with nearly two-thirds of summer holiday trips already booked. Long-haul destinations, such as Mexico and the Dominican Republic, have also seen good demand.

However, Tui has cautioned that higher living costs and reduced household budgets could dampen consumer demand, as the sector continues to be impacted by higher fuel costs and currency exchange rate volatility. Photo by Tiia Monto, Wikimedia commons.