The latest booking data from the Spanish tourist industry shows that the UK is the largest overseas tourist market for Spain and the islands this summer as bookings stand, followed by the French and the Dutch. The Germans, for the moment, seem to be holding the line and waiting to see what happens.
And the market reports emerging from Spain have been backed up by data from the UK.
For the moment, British travel agents and operators have yet to see a significant impact on bookings from the cost of living crisis but remain concerned that increased taxation and inflation could create a “perfect storm” for future trading.
Consumer markets analyst Mintel insists that travel “will remain a consumer priority”.
And both TUI UK and Jet2 have said this week that bookings are very strong, especially for Spain and the Balearics with numbers getting very close to the pre-pandemic sales figures.
A prolonged conflict in Ukraine could lead to an increase in air fares, but large hotel chains in the Balearics, for example, are already offering substantial savings for early bookings.
There are concerns that it will be a late booking market, but last minute consumers run the risk of getting caught in the air fare trap, so the best advice is to get booking your Balearic holiday now. Never mind that it might be raining, the sunshine is coming and it is going to last well into November!