Travel, “an essential element”
This summer the world will have its eyes fixed on Europe and more specifically on Paris and France where the Olympic Games will take place. “The increase in the price of plane tickets is much greater than inflation, but this does not seem to bother consumerscontinues Johan Geeroms. They are willing to accept higher prices or travel less far.”
In 2023, 1.3 billion people traveled abroad, an increase of 33% from the previous year. According to the Allianz Trade study, consumers increasingly view travel as an essential part of their lives and factor it into their household budgets. “We rarely observe the phenomenon of the shame of taking a plane”insists Mr. Geeroms who speaks of “lassitude” consumers on the climate issue. “They also have other concerns: energy prices, food inflation, the war in the background.”
This increase in plane ticket prices can also be explained by the delivery delays that many companies are currently experiencing. And this, in particular, following the incessant problems at one of the two major world manufacturers, the American Boeing.
Belgians are ready to spend much more than the European average on their summer holidays
Allianz Trade estimates that total revenue growth in the global aviation sector will be around 6.5% this year. “Aviation is thus the only sector which has not experienced a decline since the recovery after Covid”, insists the study.
According to the International Air Transport Association (Iata), the sector’s net profit this year will amount to $30.5 billion. A figure significantly higher than the $27.4 billion in 2023.
Accommodation: prices also increasing
“The more demand there is, the more expensive the last availabilities will be. This applies to plane tickets as well as hotels and other accommodation, recalls Sarah Saucin, spokesperson for Tui Belgium. When we look at what has already been booked up to and including May, compared to last year, Tui notes an overall price increase of 5%. This increase mainly corresponds to inflation and the general increase in costs.” At Sunweb, the country manager for Belgium, Ben Clockaerts, speaks of an increase of 4 to 5% maximum compared to last summer. “The average basket continues to increase in 2024, mainly due to the price effect”, confirms the BTC (Belgian Travel Confederation), bringing together several associations in the sector. Finally, Frank Bosteels, spokesperson for Connections, explains: “We looked at hotel sales made at Connections over a period of approximately 6 months and on 10,000 hotel bookings we get a 1.5% increase in prices compared to the same booking period a year later early.”
