Rise in Last minute Holidays as Consumer Confidence Returns
24 Sep
More and more people are booking in last-minute holiday breaks at an increased paced compared to last year. Consumer confidence and competitive pricing is tempting more holidaymakers back into travel, particularly in the U.K. and Germany. Figures show that up to 14% of holidays booked in June 2010 were booked only four weeks or less before the departure date, an increase from June 2009.
Holiday Booking Agencies are not the only ones set to benefit from the rise. Hotels and local business in the popular holiday areas as well as short term transportation like car rental and van rental, or leasing agencies are also ready to service eager holiday makers.
In the U.K. holidaymakers are eager to take advantage of the rising Pound value against the weakening Euro, with the prospect of travelling to mainland Europe being a more affordable choice than usual. Meanwhile in Germany, unemployment figures have continued to fall as the economy stabilizes, giving consumers a renewed confidence to make spontaneous purchases and investments.
The ash plume from Iceland’s Eyjafjallajökull volcano as well as riots in Greece and Thailand also put some vacationers off making bookings earlier in the year. “People are anxious early in the year whether they will still have their job in summer to pay for a holiday trip,” said Klaus Kraenzle, an analyst at GSC Research in Dusseldorf.
The increase of online booking is also making it easier, faster, and cheaper to find the holiday best suited for consumers. Price comparison websites make it even easier to search for the best deals. “To get the best deal, consumers are spending more time online and that’s reducing the time between booking and travel,” said Caroline Bremner, global travel and tourism manager at Euromonitor International in London.
“People are booking later than ever before,” said Nina Meyer, a spokeswoman for L’TUR Tourismus AG, Europe’s largest last-minute-travel organizer. L’TUR’s package-tour sales are ahead of last year and the company aims to sell 1 million journeys for the year, up from 2009’s record 832,000, which produced revenue of 360 million euros ($464 million), she said.





