Spain costs spur tour operators to focus on Turkey
Rising costs for travel agents and tourists in Spain are helping to increase demand for destinations in the eastern Mediterranean such as Turkey and Egypt, Bloomberg reported, citing tour operator Thomas Cook.
Thomas Cook is shifting capacity as its margins are squeezed in Spain by rising hotel prices and competition for plane seats, Bloomberg said citing a statement by CEO Peter Fankhauser.
“I’ve always said Turkey will come back, it offers excellent deals and great value for money, and it seems to be happening now,” he said.
Turkey has budget accommodation and thousands of all-inclusive hotels for families, meaning holidays tend to be cheaper there than much of Europe. Terrorism attacks in both Turkey and Egypt also have not occurred recently, helping to increase the attraction.
Thomas Cook is benefiting from wider margins as Spain’s total share of its holiday portfolio declines, through the country still remains its biggest destination.