Unprecedented Demand and Rising Prices Define the 2023 European Travel Season
In a remarkable turn of events reminiscent of the 1970s, Perillo Tours, the renowned New Jersey-based tour operator, is witnessing an extraordinary surge in travelers booking trips to Europe. As a third-generation owner and CEO, Steve Perillo is astounded by the overwhelming response, with approximately 96% of the company’s 500 annual departures for 2023 already booked. This figure, which includes popular destinations such as Italy, Spain, and Greece, is expected to reach 100% within a matter of weeks, even before marketing efforts for the 2024 season begin.
The signs of this blockbuster season began to emerge last fall when Perillo Tours offered a modest Black Friday discount of around 5%. Reflecting on the incredible demand, Steve Perillo jokingly remarks, “We should have charged more for Black Friday.” The response was nothing short of outrageous, prompting him to call friends that night, foretelling the tremendous success that awaited them.
The fervor for European travel is not limited to Perillo Tours alone. Travel insurance provider Allianz Partners predicts an astonishing 55% increase in the number of Americans traveling to Europe this summer compared to last year, which already saw a staggering 600% surge from 2021. Allianz’s annual review reveals that London, Paris, and Dublin secured the top spots on the list of the 10 most popular destinations for 2023. Notably, Rome, Reykjavik, Amsterdam, and Lisbon also feature prominently.
Reinforcing these findings, the European Travel Commission forecasts strong demand for European vacations in 2023, with nearly half of all destinations on the continent anticipating a return to over 80% of the pre-pandemic numbers from 2019.
With such immense demand, it comes as no surprise that prices have soared. Hopper, a leading flight tracking site, reports that airfare to Europe has reached a five-year high. Currently, roundtrip tickets are averaging over $1,200, representing an increase of approximately $300 from 2022 figures and a significant 26% jump compared to pre-pandemic prices in 2019, according to a company spokesperson.
Notably, hotel prices have also experienced a surge. American Express Global Business Travel predicts the largest price increases for European hotels in 2023. Paris, Stockholm, and Dublin are among the destinations expected to witness the highest rises, with projected increases of 10%, 9%, and 8.5% year-over-year, respectively.
However, despite the higher costs, the collective wanderlust remains unyielding. European hubs have been bustling with tourists for weeks, resulting in sold-out hotels, crowded museums, and bustling restaurants becoming the norm. In-demand cities like Barcelona, Rome, and Paris are witnessing an unprecedented influx of visitors eager to experience the wonders of Europe once again.
As the 2023 European travel season continues to unfold, Perillo Tours and other industry players are undoubtedly thrilled by the remarkable surge in bookings. With such overwhelming demand and rising prices, this season is shaping up to be an extraordinary chapter in the history of European travel.
