17 May Green list holiday prices jump by as much as 6% in a week
Research by Butter, the UK’s only Buy Now Pay Later (BNPL) travel agency, has revealed that holidays to green list destinations have already increased by as much as 6% since Boris made his announcement on the 7th May.
Prior to the PM revealing which destinations would provide quarantine free travel for UK holidaymakers this summer, Butter analysed the average cost of a seven day holiday to hundreds of worldwide tourism destinations.
The analysis looked at the average cost of flights and hotel per person for a week-long trip to the capital city of each nation during August and found that, on average, green list destinations would require a budget of £922 per person. However, just a week later, the same analysis shows that this average cost has already climbed by 1.6% to £936.
Gibraltar has seen the steepest increase, with the average cost of a holiday up 6.1% from £378 to £401 per person.
Israel has also seen a considerable jump, with the cost of a seven day holiday to Tel Aviv up 5.5% in the last week, while a trip to Wellington in New Zealand has also seen one of the largest increases (3.4%).
Despite seeming the most popular choice for UK sunseekers this summer, the cost of travelling to Lisbon has only increased by 1.7% in the last week. Although this is the fourth largest increase of all green list destinations.
Just one location has seen the cost of a seven day holiday decline since the green list was announced. The cost of heading to Reykjavik in Iceland has dropped -6% from an average of £616 to £579 in the last week, with the Faroe Islands seeing a very marginal increase of 0.2%.
Timothy Davis, Co-Founder and CEO of Butter, commented:
“It’s clear that the unveiling of the government’s green list destinations and the chance of a quarantine free holiday this summer has been enough to substantially boost demand to these locations in a very short period of time.
Of course, any spike in demand is always likely to bring about an increase in price and in just one week, the cost of travelling to the majority of these countries has climbed quite considerably in some cases.
However, an air of caution no doubt remains amongst UK holidaymakers given the uncertainty that has hung over the travel industry during the pandemic, with many more holding tight to see if any amber list destinations are reclassified to green over the coming months.
So while the cost of green list holidays is starting to climb, now remains a good time to book before they start to climb further as we approach the holiday season.”