Prices For Vacations To Egypt And Turkey Increase Despite Weakening Currencies

Although the Egyptian pound weakened by 40 percent and the Turkish lira by a third against the Czech koruna over the past year, vacations to these destinations have not become cheaper. On the contrary, they have become more expensive, although travel agencies report that the increase has not been dramatic.

“The year-on-year price increase for all popular destinations is under ten percent. The only exception is Croatia, which is around fourteen percent after introducing the euro. Specifically for Egypt, like for Turkey, it is seven percent,” said Petr Kostka from Exim Tours.

According to Kostka, the price increase would have been more significant without the strong Czech koruna. As it is, Exim Tours sells, for example, a May trip to a four-star hotel in Egypt for seven nights with all-inclusive starting at CZK 13,000.

“Significant price reductions in the summer season can no longer be expected due to full capacity. Pre-sales were very strong, and summer vacations have already been purchased by 85 percent more clients than at the same time last year. A similar trend is also observed in other European countries,” added Kostka.

According to the marketing director of CK Alexandria, Petr Šatný, high inflation has not spared the tourism sector, as hoteliers have raised prices due to the increasing energy cost. “Nevertheless, it is a mild increase. It can be said that the year-on-year increase in the price of trips is most commonly between five and ten percent, but this varies depending on the destinations and terms,” he confirmed. According to him, the Czech koruna has also helped keep prices relatively stable.

Flights to most destinations are gradually starting. In mid-May, these include Turkey or Greek islands, and Bulgaria, Italy, or Spain at the end of May. Hoteliers offer better prices before the season starts. Most clients book trips to Turkey, Greece, Egypt, Bulgaria, and Spain.

According to the calculation of Akcenta analyst Miroslav Novák, the Czech koruna has strengthened the most against tourist currencies since the beginning of this year, nearly a quarter, against the Egyptian pound. The Czech currency has appreciated by almost one-tenth against the Turkish lira and a few percent against the Bulgarian lev. It weakened against the Hungarian forint.

However, the Czech koruna is also more robust against the euro by three percent, and against the dollar, by six percent. On Sunday, the euro was sold for CZK 23.50 and the dollar for CZK 21.40. Therefore, the strong Czech koruna makes shopping and expenses cheaper in countries like Croatia or the USA.

According to Petr Kostka from Exim Tours, it is apparent that the summer season is extending. “More and more Czechs are opting for May dates and flying to places like Jordan, Egypt, or Tunisia,” he noted. On the other hand, Šatný sees a decline in the popularity of the Canaries due to travel restrictions, while Madeira is a new and popular destination.