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Hungarian Holiday Will Cost Czechs the Most in Summer 2023

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The worst holiday destination in terms of inflation for the average family this year is Hungary, where people will pay 28.4 percent more than last year. This is according to an analysis by Cyrrus. It says holidays in the Czech Republic will cost 16.6 per cent more year-on-year, followed by Poland by 15.3 per cent and Croatia by 9.6 per cent. In contrast, there is almost no change in prices for families to holiday in Ireland, where travellers will pay 0.4 per cent extra. Compared to last year, it may be cheaper for Czechs in Sweden and Malta, by 2.8 and 6.6 per cent respectively.

The analysis compares countries by inflation and the exchange rate to the Czech crown. For holidaymakers, inflation also depends on their specific purchasing behaviour, so the analysis provides four model examples with different purchasing behaviour. The authors then calculated basket inflation in all EU countries and took into account the year-on-year change in the exchange rate of the Czech crown.

The Czech crown 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 crown has strengthened noticeably, which dampens inflation for Czech travellers there.

For a childless couple on summer holidays, Hungary is at a disadvantage this year with inflation at 25.8 per cent. Holidaymakers in the Czech Republic will experience year-on-year inflation of 15.7 per cent, 13.2 per cent in Poland and 12.2 per cent in Croatia. On the other hand, Malta is managing to keep prices at bay, with inflation of 2.3 per cent, and Luxembourg 1.8 per cent. Sweden reports a significant price decline of 5.8 per cent, according to the analysis.

Even for the model case of the adventurer, i.e. the active loner, the analysis does not recommend Hungary in relation to inflation. The lone traveller there will spend 27.5 per cent more this year than last year. He is followed by Poland with 10.9 per cent, the Czech Republic with 5.4 per cent and Slovakia with 4.9 per cent. In Sweden, an individual on the move will be 6.6 per cent cheaper year-on-year, in Portugal 8.3 per cent and in Ireland 10.7 per cent.

Hungary should also be avoided by the party-lover, according to the analysis, as they could face prices 27.8 per cent higher there. Parties are also more expensive in Poland, by 13.3 per cent, in the Czech Republic by 12.7 per cent and in Croatia by 10.4 per cent. Party-goers may find inflation significantly dampened by holidays in the Netherlands, where they will find prices 1.2 per cent higher, or in Finland, with a 1.2 per cent increase. The only EU country where they can enjoy them at lower prices this year is Sweden, with a six per cent drop.

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