Because of inflation, Europeans started selecting more low-cost vacation options for Christmas and New Year’s, writes Bloomberg with a reference to online travel agency Trivago.

According to analysts, Europeans utilize online booking services less frequently as rising expenses have an impact on household disposable income. Booking data from November to January show that customers are more inclined to choose less expensive hotels and shorter visits, according to Trivago CFO Matthias Tillmann.

Mr. Tillmann pointed out that, on average, passengers cut their stay by 10%. Additionally, he added, « people are searching for better value for money in the current situation. The Mediterranean cities, where lodging is typically less expensive, are particularly well-liked. Greece and Spain continue to be popular vacation destinations, while Istanbul has dramatically improved its standing, climbing from the top 20 to the top five.

However, despite their growing penchant for saving money, Europeans still enjoy vacations and travel occasionally. Low-cost airlines like Ryanair are likely to profit from this shift in choice as passengers choose less expensive tickets.

source: bloomberg.com