Debate Magazine

Nobody Move Or Your Holdays Get It!

Posted on the 25 May 2016 by Markwadsworth @Mark_Wadsworth

From BBC Reality Check:
Claim: Leaving the EU would make an average holiday for four people to the EU £230 more expensive in two years.
Reality Check verdict: It would be reasonable to expect a weaker pound to make foreign holidays more expensive, but it is hard to predict a precise figure.

We do not whether and by how much GBP would fall (or rise) relative to EUR post-Brexit, if it were to fall, then yes, the GBP price of holidays in the Euro-zone would go up slightly. Big deal. The amount you spend on a holiday is a fairly arbitrary figure, you can always go self-catering instead of full board; or camping instead of a hotel; or eat McDonalds not a four-course with wine; go for a walk or to a museum instead of to a theme park etc. Over the years, GBP has been a lot lower relative to EUR than it is now, and people still went.
But exchange rates are just one factor in the price of holidays.
As we well know, resorts set prices according to demand, and it is significantly cheaper during term time than during school holidays, so we could more than alleviate this perceived problem by having more flexible term times, i.e. having school holidays at a time when most other European countries don't.
Which brings us to this article from The Daily Mail:
Tourists are facing a shortage of sunshine holiday spots this year as British families turn their backs on previously popular destinations.
Travel agents say that thousands have switched to ‘safe haven’ resorts such as Spain, Portugal and Italy – apparently in response to terror attacks elsewhere.
However, there are simply too few hotels, apartments and villas to cope with the surge in demand. Even if people can find a holiday in Spain, analysts suggest they are paying a ‘safety premium’ of up to 20 per cent compared to destinations including Tunisia and Turkey.

Surely this will also push up prices and by considerably more than fluctuations in exchange rates?


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