Holiday package prices in Cyprus increased by 16.7% in July, making it the third country with the highest price increase in the European Union for 2024, according to Eurostat data.
Specifically, in July 2024, the consumer price index for organised holidays in the EU was 6.6% higher than in July 2023. Domestic holiday packages experienced an 11.1% price increase, while foreign holiday packages saw a 5.7% rise.
The price of organised holidays has been on the rise across the EU since August 2021, with the annual inflation rate surpassing 10% for most months in 2022 and 2023. Notably, domestic organised holidays witnessed a significant price surge in 2023, with an annual inflation rate exceeding 20% for seven months that year.
In July 2024, most EU countries recorded positive annual inflation rates for organised holidays sold within their respective countries. The highest increases were observed in France (+22.2% compared to July 2023), Italy (+19.5%), and Cyprus (+16.7%).
In contrast, three EU countries recorded negative inflation rates for holiday packages: Malta (-2.9%), Finland (-2.7%), and Denmark (-0.2%).
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