Vacation Inflation: Where to Travel from Czechia and Save Money This Holiday Season
The worst holiday destination in terms of inflation for the average family this year is Hungary, where visitors will pay 28.4% more than last year. According to analysis by Cyrrus, holidays in the Czech Republic will cost 16.6% more year over year, followed by Poland at 15.3%, and Croatia at 9.6%. In contrast, there is almost no change in prices for families to holiday in Ireland, where travelers will pay 0.4% extra. Compared to last year, it may be cheaper for Czechs in Sweden and Malta, by 2.8% and 6.6% respectively. The analysis compares countries by inflation and the exchange rate to the Czech koruna. For holidaymakers, inflation also depends on their specific purchasing behavior, so the analysis provides four model examples with different purchasing behaviors. The authors then calculated basket inflation in all EU countries and took into account the year over year change in the exchange rate of the Czech koruna. The Czech koruna has weakened slightly against the Hungarian forint over the past twelve months, which, according to the analysis, makes the Hungarian price increase even more painful for Czech tourists. Against the Swedish krona, on the other hand, the Czech koruna has strengthened noticeably, which dampens inflation for Czech travelers there. According to the Cyrrus models, for a...