Vacation inflation: where to travel from Czechia without breaking the bank

The cost of a vacation in Hungary has soared 28.4 percent for Czech travelers, according to a new study by financial planning company Cyrrus. Staff

Written by Staff Published on 04.06.2023 15:27:00 (updated on 09.06.2023) Reading time: 2 minutes

Planning a summer getaway from the Czech Republic this year? With rising vacation costs and fluctuating exchange rates, the price of traveling to some popular destinations can be much more expensive than just a year ago.

A recent analysis by financial planning company Cyrrus based on prices across the EU and current exchange rates reveals the worst holiday destinations from the Czech Republic in terms of inflation, and offers some alternative options for Czech travelers this summer.

While the Czech crown has strengthened against most currencies over the past 12 months, it has lost value against the Hungarian forint. According to the analysis, Hungary tops the list as the vacation destination with the highest price increases for Czech travelers, with prices surging by 28.4 percent compared to last year.

Unfortunately, the situation isn't much better in the Czech Republic itself. Due to inflation alone, vacation costs have increased by 16.6 percent year-on-year for Czech residents traveling within their home country, the second-highest increase in the EU.

Poland and popular summer travel destination Croatia follow, with prices for Czech travelers up 15.3 percent and 9.6 percent, respectively.

Fortunately, there are alternative destinations where Czech travelers can find good value for their money this year. In Ireland, for example, there is almost no change in prices for a family holiday from the Czech Republic, with an increase of only 0.4 percent.

Due to favorable exchange rates for the Czech crown, the cost of a vacation in Sweden or Malta is actually less expensive for Czech travelers than it was last year, with average prices decreasing by 2.8 percent and 6.6 percent, respectively.

Different purchasing behaviors also play a role in overall vacation costs. The above numbers refer to family getaways, but the analysis presents various examples, allowing travelers to gauge the impact of their specific preferences on prices.

For a childless couple planning a summer vacation, Hungary still sees the highest price increases for Czech travelers, with costs up 25.8 percent. The Czech Republic follows at a 15.7 percent increase, with Poland (13.2 percent) and Croatia (12.2 percent) right behind. Prices in Malta (2.3 percent) and Luxembourg (1.8 percent) are only slightly up for couples, while costs to travel to Sweden are down 5.8 percent this year.

For solo travelers, Hungary still tops the list with prices for those with Czech crowns, up 27.5 percent. Prices are down 6.6 percent in Sweden for solo Czech travelers, however, and costs are even less in Ireland (down 8.3 percent) and Portugal (down 10.7 percent) this year.

As you plan your summer vacation this year, be sure to consider the impact of inflation and exchange rates. While some popular destinations from the Czech Republic have risen greatly in cost, there might be some unexpected value to be found elsewhere.

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