Europe's Travel Prices Are Finally Falling — What Travel Buyers Are Doing
Photo Credit: Hotel Terminal Neige, Flaine, France Unsplash / Judith Girard-Marczak
Skift Take
It’s the first time that prices are cooling off this year, but experts warn this deflation won’t last long with more “correction cycles” to come.
Travel prices across Europe have started to decline, following months of continuous hikes in air fares and hotel rates. However, they’re expected to remain highly volatile for several years as the market undergoes a correction.
New data from Spanish corporate travel agency TravelPerk shows travel costs have come down for the first time in 2022, catching up with a travel deflation seen in the U.S. in the third quarter.
The data, which also includes rail prices, covers the fourth quarter so far. And for those two months of October and November, global travel inflation now stands at -8 percent compared to the third quarter, according to the agency.
Tripbam, an auditing and re-booking platform, sees similar trends.
“Seasonality has a big impact on the data,” said Steve Reynolds, CEO and founder.
