Pent-up demand and fuel costs see price of foreign holidays rise up to 16%
Holidays to the Canaries, Portugal and Spain are more expensive this summer compared to 2019.
Prices for popular foreign holiday destinations have gone up by 16% in some cases.
The Irish Travel Agents Association (ITAA) says holidays to the Canaries, Portugal and Spain are more expensive this summer compared to 2019.
The average price for a holiday to Lanzarote was €746 before the pandemic but that has now risen by 11% to €831.
For those looking to jet away to the Algarve in Portugal this July or August, prices have risen by €118. The prices quoted are for a 7-night stay.
Paul Hackett, President of the ITAA, says costs have increased for airlines.
"Once it's off-peak, the value is exceptional across sun, city, all of the destinations, the US. There is no major price increase," said Mr Hackett.
"What we are also having to recognise is that the prices for 2022 are being compared back to 2019 so that is three years of a price difference.
The pent-up demand is most pronounced in July and August as families look to travel abroad during the school holidays.
"It's a case of supply and demand. We have pent-up demand because people haven't been on holidays for years," Mr Hackett said.
"People have money, the airlines are looking to recoup some of the money that they have lost over the last number of years."
The price increases are not limited to Ireland as other countries are seeing the cost of travel increase also.
