Cyprus offers opportunities for inexpensive holidays, says TUI boss

Sebastian Ebel, the Chief Executive Officer of TUI, a leading tourism company, this week declared that the era of inexpensive flights has come to an end, noting, however, that Cyprus is among the more affordable destinations.

Ebel cautioned that travellers should anticipate high prices and an end to last-minute bookings. However, he clarified that this does not imply that Germans will not go on vacation.

In statements made to the German outlet Bild, Ebel clarified, however, that this does not mean that cheap holidays will not be available to tourists during 2023.

“Countries such as Morocco, Tunisia, Cyprus and Thailand exhibit only small changes in their prices compared to the previous year,” he said.

“In some Mediterranean countries, such as Spain, prices are cheaper than in Germany,” he added.

TUI, according to Ebel, is experiencing extremely high demand in the first summer after the end of the coronavirus pandemic, with Greece in first place for bookings.

“In some holiday resorts, there are now almost no rooms available, for example in popular hotels on the islands of Kos, Crete or Rhodes,” Ebel said.

“Instead, there are still rooms available in Majorca, mainland Spain and Turkey,” he added.

In general, “2023 will not be a summer of last-minute bookings, as has been the case in previous years”, he explained.

He added that “on the contrary, just before departure, prices will be higher rather than lower”.

Ebel noted that “since hotels and airlines know that many reservations are made close to the date of travel, last-minute big deals will be the absolute exception.”

Regarding air travel, the reduction of airport capacity poses an additional problem as demand continues to exceed supply.

“That’s why the cheap offers that were once part of promotions will no longer exist,” Ebel stated.

What is more, Ebel noted that Germans are willing to spend an average of €1,200 per person on their holidays this year, with many opting to book reservations at five-star hotels.

When asked about the impact of Turkey’s upcoming elections on tourism demand, Ebel stated that holidaymakers from Germany are eagerly anticipated in the country’s tourist areas.

He emphasized that tourism is a vital contributor to Turkey’s economy, and TUI will continue to work closely with local hoteliers and agents.

Moreover, Ebel expressed confidence that German airports will not face the same issues as last summer and assured that TUI had recently repaid the state aid of approximately €4.3 billion that it received during the coronavirus crisis.

Finally, the TUI chief said that he expects significant profits for the company in the coming year.