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Everything gets more expensive. But inflation, of all things, could give tourism another boost, hopes Norbert Fiebig, President of the German Travel Association: "I'm still optimistic because many people still have money on the high edge and don't want to wait for their assets to be wiped out by inflation is sawed up," said the DRV boss before the annual meeting of his association in Berlin.
Have a nice vacation before the money is no longer worth anything: This motif could have guided many Germans in the current summer season. According to an evaluation by the travel association, expenditure per person and night has risen by an average of 15 percent. You want to treat yourself to something, such as booking a hotel with a higher star rating. After the restrictions of the Corona period, an only too understandable motive.
The high per capita spending by travelers and the increasing number of bookings have finally pulled the tourism industry out of the trough of the pandemic this year. "The summer season, which will end in around two weeks, will probably be able to almost reach the sales level of the pre-Corona summer season 2019," believes Fiebig.
It remains to be seen whether the good travel year 2022 will only have marked an interim high in retrospect. Because the increase in individual travel budgets is only partly due to the desire for more luxury. It is also likely to be due to the price increase. And there is no relief in sight here.
What is threatening on the price front has already become noticeable when it comes to airline tickets. Even the Irish price-breaker Ryanair wants to raise prices in view of the expensive fuel.
750 euros for a trip to Cyprus or 200 euros for a one-way ticket to Germany's favorite destination Mallorca are not uncommon these days and far removed from the former marketing hit of the 10-euro ticket. Ryanair boss Michael O'Leary sees no more leeway for such ridiculous prices in the coming years.
Instead, Europe's largest low-cost airline announced via a BBC interview that the average ticket price would increase by 25 percent to around 50 euros per route. An increase well above the rate of inflation. The time of cheap flights seems to be over for the time being.
The comparison portal Check24 comes up with even higher average prices for the period of the autumn school holidays from October 4th to November 6th. For example, a return flight to the Canary Islands costs an average of 464 euros, which is 21 percent more than a year earlier and even 30 percent more than in the same period before the Corona crisis.
Sun-seekers have to pay 385 euros for a trip to the Turkish Riviera. That is 27 percent more than in the same period of the previous year, outward and return flights to Bodrum on the Turkish Aegean have become even more expensive by 44 percent within a year.
The credit insurer Allianz Trade sees the sharp rise in kerosene costs since the Russian attack on Ukraine as the main reason for the high price phase. For the year as a whole, Allianz is expecting far above-average ticket price increases of 21 percent.
In view of the fuel prices, the airlines currently have little incentive to increase their staff, which was severely reduced during the crisis.
"Supply is still lagging behind demand," says Gerald Wissel from the consulting firm Airborne. "Partly for organizational reasons, the airlines are unable to get all the aircraft back in the air. Because of the uncertainties surrounding Corona, you are also traveling with the handbrake on. However, that is very difficult to estimate.”
The travel industry as a whole is therefore looking to the coming travel year with a mixture of fear and hope. Several current surveys show that vacation trips have a high consumption priority, says DRV President Fiebig.
"It remains to be seen", says Fiebig, "how the Germans' propensity to consume will develop in the coming weeks against the background of rising inflation and how high the disposable household income will be."
"Everything on shares" is the daily stock exchange shot from the WELT business editorial team. Every morning from 7 a.m. with our financial journalists. For stock market experts and beginners. Subscribe to the podcast on Spotify, Apple Podcast, Amazon Music and Deezer. Or directly via RSS feed.
