The price of package holidays in Cyprus as well as in the EU continued increasing in 2024, with Cyprus recording the third highest increase among member states in July, according to data released by Eurostat, the statistical service of the EU.
In July 2024, the consumer price of package holidays in the EU was 6.6% higher than in July 2023. The price of domestic holiday packages was up 11.1%, while international holiday packages saw a 5.7% increase.
The price of package holidays has been rising across the EU since August 2021. The annual rate of increase exceeded 10% in most months throughout 2022 and 2023. In particular, domestic package holidays saw a price surge in 2023, with the annual inflation rate surpassing 20% for 7 months in that year.
(VOUICE CYPRUS)
