It should be no surprise to anyone that an economic downturn has affected most of the Western world. In Europe some have been hit harder than others. This, in turn, has had a knock-on effect on the travel and tourism industries in these countries. You have probably heard of the energy crises in Germany, Great Britain, the Netherlands and other European nations — but what does this mean for tourism and those considering taking a cheap holiday to these countries?
Typically, the countries that are particularly suffering right now are focusing on the tourism industry to help attract visitors, in order to help their economies recover. This combined with several years of recent financial struggles from the pandemic, coupled with the recent surge in the US dollar against the euro and the British pound, means the average cost of holidays to Europe will be lower than some of the other popular destinations, so this is the perfect time for the financially savvy to pick up a bargain and enjoy a cheap holiday!
You will find within each country that the cities and regions most affected by the economic problems will boast lower hotel room prices, airfares and potentially special offers and incentives to encourage visitors to the area.
There is one downside to vacations taken in the likes of Greece, Spain, France and other Euro nations and that is the potential protests and civil unrest that have been a result of the recent economic problems, but keeping up to date with the news in these areas will help you avoid any problems and in most cases any unrest is temporary.
This instability appears to be deterring some visitors from Greece with a 30% drop in tourist numbers over recent months. This has resulted in a 20% decrease in hotel rates to Greece available in popular destinations such as Corfu. Today, Greece is a bargain vacation destination for savvy travelers. In fact, it’s now as affordable as Turkey, which has also been increasing in popularity due to the low costs.
The property and holiday rental market in Spain is starting to suffer again, with supply far outstripping demand. This has caused a 40% drop in holiday villa rental costs in the most popular Spanish beach resorts.
The economic downturn is opening up a world of opportunities for cheap holidays. As a result, those that want to travel to some of the world’s most beautiful landscapes can now do so. Beyond the cheap hotels and airfares you will also find that the local businesses provide affordable goods and food. Also, remember to take advantage of tourist attractions using special offers that will help you stick to your budget. It’s important to keep your eyes on the news when searching around for those deals.
Photo Credit: Amanda Govaert
I would love to go on a vacation to Greece or Spain. Personally, it is bad timing as we have two little ones and one on the way. The last time we traveled through Europe (on our way to Africa) was during the early days of the great recession. The dollar was stronger vs the Euro and saved us money on plane tickets as a result.
I took a trip around Europe last summer and the rates were amazing. Hotels in Greece or Italy were empty and so were restaurants, so we were able to grab some real bargains. The relatively strong dollar is a plus too.
We went to a couple of Asian countries and the exchange rate was quite in our favor. In addition to finding less expensive hotels, we ate at least one meal at street vendors food stalls.
We homeschool, and I’m considering taking everyone on an educational vacation to Greece next year. 🙂