High demand for cheap holidays: Turkey as a winner of cost increases

Istanbul Airport (Photo: Unsplash/Artem Bryzgalov).
Istanbul Airport (Photo: Unsplash/Artem Bryzgalov).

High demand for cheap holidays: Turkey as a winner of cost increases

Istanbul Airport (Photo: Unsplash/Artem Bryzgalov).
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Many airlines have secretly reduced their frequencies to Greece and Spain. That doesn't come as a surprise, because many carriers have created a veritable oversupply. This cannot be sold as hoped, because hotel costs have risen sharply, especially in Greece.

Last year, this state boasted the best tourist results of all time. The company had marketed itself correctly in good time and was able to score points with holidaymakers in particular with their confidence in safe holidays. This year, many airlines wanted a piece of the cake and speculated on further growth. However, oversupply was created, which can only be sold slowly due to price increases in Greece. Many airlines have secretly reduced their frequencies to this country.

A similar picture can also be seen in the direction of Spain, but the reduction in flight frequencies is less pronounced here, because potential holidaymakers to Greece have decided on Spain not least for cost reasons. But the “new, old main competitor” this year is Turkey. This is currently pursuing a low-cost strategy because, among other things, due to the weak Turkish lira, vacations in this state are particularly cheap for Europeans this year.

On the other hand, Turkey has the problem that it is urgently dependent on tourism income, but with the Ukraine and Russia two important source markets are on the brink of total failure. In the Russian Federation in particular, Turkey is campaigning aggressively for vacationers and even wants to set up its own airline so as not to put Turkish Airlines, for example, in danger of being sanctioned by the EU, for example.

Turkey's strategy is not new: They want to score with cheap holidays and attract as many guests as possible. Demand in Germany, Austria and Switzerland is said to be as strong as before the attempted coup, which caused tourism to collapse even before the corona pandemic. Precisely due to sharply rising prices in the EU, more and more holidaymakers are choosing cheap Turkey instead of comparatively expensive Greece. It is therefore more than questionable whether the record from the previous year can be topped this year.

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