Holiday Savings Soar: Czech Travel Agencies Report Record Profits

Despite the high inflation that hit the Czech Republic in 2023, Czechs did not forego their holidays. This is indicated by the financial results of large travel agencies, which had a very successful year in 2023. Blue Style and Čedok announced their financial results last year, recording record profits. But they weren’t alone. The German travel agency Der Touristik, under which Fischer and Exim Tours fall, also reported record figures in the Czech market last year.

Blue Style announced revenues of 8.2 billion crowns, nearly 450,000 clients served in more than 37 destinations, and an EBITDA (earnings before interest, taxes, and depreciation) of 560 million crowns last year. These are record numbers in its 27-year history.

Čedok also published its last year’s financial results earlier. In 2023, it reported revenues of 7.8 billion crowns, an annual increase of 56 percent. The number of passengers served also rose by more than half, reaching 420,000. Their EBITDA was a record figure, climbing to around 350 million crowns.

Impressive results were also reported in the Czech Republic by the Der Touristik group, which includes Fischer, Exim Tours, Nev-Dama, and eTravel. “Revenues exceeded 17 billion crowns, EBITDA profit is in the hundreds of millions of crowns, and over 850,000 clients traveled on holiday with us,” said DER Touristik Eastern Europe spokesperson Jan Bezděk.

The most common clientele of travel agencies are families with children. However, many of Blue Style’s clients are also people at the peak of their productivity, the so-called “empty nesters.” Regarding choosing destinations, Czechs often travel to Greece, Egypt, and Turkey for holidays. Blue Style also reported high sales for Bulgaria and Tunisia, while Čedok mentioned Spain, including the Balearic and Canary Islands.

So, how do travel agencies see this year? Blue Style stated, “We expect further growth and revenues of 10 billion crowns in the Czech Republic. The fact that we have already reached just under 50 percent of last year’s revenue volume as of today (February 27, 2023) suggests another successful year. We plan to provide a dream vacation for more than 520,000 clients.”