Monthly Holiday Price Index - October 2024

After six months of falling holiday prices compared to last year, the tide finally turned in October as prices rose 2% YOY. Analysis of millions of holiday prices by Cheeky Trip found that eight out of ten months have experienced falling holiday prices this year, with March and October being the exceptions. This table highlights the price differences for 2024 so far - up until the end of October. 

Year on Year Price Comparison. Picture Credit: Cheekytrip

Although prices rose overall in October, this was not uniform across all types of holidays. Indeed, short-haul prices increased by 8% while medium and long-haul prices fell by 9%.

All Destinations October Yearly Price Comparison. Picture Credit: Cheekytrip

If we zoom in closer, there are large variations between destinations. In terms of short-haul destinations, holidays to Portugal saw the biggest YOY price increases (+15%), followed by Cyprus (+14%), and the Balearics (+11%). Meanwhile, prices for holidays to mainland Spain and Bulgaria decreased in price the most (-8% each).  

Let’s take a look at how prices have fared for some of these short-haul destinations throughout the year so far: 

Year on Year Short Haul Destinations Price Changes by Month Price Comparison. Picture Credit: Cheekytrip

There were considerable variations among medium and long-haul holidays too. Holidays to Egypt continued to strengthen year-on-year (+12%), for the fourth month in a row. (In July, holiday prices to Egypt increased by +13%, by +13 % again August, and by +7% in September - compared prices in the same period in 2023). 

In contrast, prices for holidays to Mexico fell by -20% compared with 2023, prices for holidays to Cape Verde were down -5%, and the Caribbean by just -2%. 

 

Holiday Prices Departing in a Week Yearly Price Comparison. Picture Credit: Cheekytrip

Holiday Prices Departing in a Month Yearly Price Comparison. Picture Credit: Cheekytrip

Last-minute holiday prices were relatively stable with holidays departing within a week less than -1% down YOY. In contrast, prices for advanced departures travelling in 6 months were up +4% compared to the same period last year.

Holiday Prices Departing in 6 Months Price Comparison. Picture Credit: Cheekytrip

“Our analysis indicates that 2024 has been a very strong year for Portugal, with prices significantly higher every single month this year compared to 2023,” says Steve Campion, Managing Director at Cheeky Trip. “This contrasts quite starkly with Mainland Spain where prices were considerably lower than last year for much of the year so far” continues Steve.  “Strong prices generally indicate high demand and/or low supply and vice versa. It would be interesting to compare these prices with visitor numbers to see if there is any correlation.”

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