By Africa.com | Created at 2024-12-13 06:54:43 | Updated at 2024-12-21 17:23:28
1 week ago
Tui, Europe’s largest package holiday operator, has reported a shift in consumer preferences toward budget-friendly destinations like Tunisia and Egypt for cash-strapped holidaymakers. The company attributes this shift to rising costs in traditional hotspots like Spain, especially Mallorca and the Canary Islands. Despite inflation easing, holiday prices remain significantly higher than pre-pandemic levels, prompting new customers with limited budgets to seek alternatives. This trend has boosted tourism in Tunisia and Egypt, leading to recoveries from a decline in visitors after terror attacks in 2015. Tui also announced annual pre-tax profit soared 35% to €1.3bn, supported by strong performances in its package holiday and cruise divisions. Beyond this, the company announced that over 20 million customers traveled with it in the past year, marking a 7% increase compared to the previous year. This points to a rebounding tourism industry.
SOURCE: THE GUARDIAN
