August 10, 2023

There will be no break from the cost-of-living crisis this summer, with families facing the highest increase in the cost of holidays and staycation activities on record.

The price of package holidays, which are meant to provide the best value breaks, at home or abroad has increased by 12.4% across the EU between January and May and that follows an 11.5% increase last year.

That is the highest increase in the cost of package holidays since records began in 1996 – before last year, the previous highest annual rise was 7.2% in 2015.

The analysis of Eurostat data by the European Trade Union Confederation and European Trade Union Institute found:

  • The average cost of a package holiday of four nights or more is now €2,967 – up by more than €600 since 2018.
  • People in Estonia, France, Bulgaria, Sweden, and Czechia have been hit by the highest increases in the cost of a package holiday, with rises between 18% and 31%.
  • The average price of a package holiday is worth more than a month’s pay for those earning the minimum wage in 14 member states.
  • Around 19.5% of working people can’t afford a week away from home, according to the latest Eurostat data – equivalent to 38 million people.
  • The highest numbers of working people unable to afford a holiday are found in Romania (43%), Greece (37%), Hungary (34%), Italy (31%), Croatia (31%) and Cyprus (30%).

For those forced to stay at home, the cost of recreation and cultural activities, including visits to the cinema or museums, has also increased by a record 6.5% – a third more than nominal wage growth.

Many will also struggle with the additional strain of feeding lunch to their children over the school holidays, with new data showing increasing numbers of EU citizens are struggling to afford a proper meal.

The ETUC is calling on the EU and national governments to end the cost-of-living crisis by imposing windfall taxes on the super profits which account for two-thirds of inflation and restore the purchasing power of workers through decent wage rises.

ETUC General Secretary Esther Lynch said:

“A holiday is important for the wellbeing of workers but the record increase in prices will mean millions missing out on a break this summer.

“The cost-of-living crisis means many working people will struggle just to feed their children properly over the summer holidays, let alone think about a holiday or days out.

“Meanwhile the CEOs who have caused inflation by using supply shortages as an excuse to ramp up their profit margins will be sunning themselves in luxury resorts.

“Far from being a break, this summer is shining a light on the profound inequality that exists in our economy and society.

“EU and national leaders need to finally tackle the real cause of this crisis by imposing effective windfall taxes on the excess profits driving inflation and strengthening collective bargaining to provide for pay increases as the best way to restore working people’s purchasing power.”

Source: ETUC-European Trade Union Confederation
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