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Holiday Destinations: Spain Reigns in 2017

June 12, 2017

With many reports suggesting Spain and other holiday destinations across the western Mediterranean are full to the brim this year, what is the true story? And if hotels in these destinations are already full, which other destinations are proving popular this year? Will 2017 see the return of Turkey as a main destination for holidaymakers seeking great value deals and are more Brits expected to head long-haul this year?

Latest reports are suggesting Spain (including the ever-popular sun kissed Balearic and Canary Islands) and destinations across the western Mediterranean are already reaching capacity for this summer, with many of the major tour operators and online travel agents reports a lack of stock.

The uncertainty surrounding Brexit and the impact of terrorism are considered the main reasons why British holidaymakers are choosing to enjoy their annual holiday in Spain and the western Mediterranean. Proof of this can be found in a recent survey conducted by the World Travel Monitor with 45% of international travelers stating they have concerns over safety and security with two thirds of these planning on only traveling to destinations they perceive as ‘safe’.

However, things may be changing as a recent news story in Travel Weekly revealed holidays to Turkey and the eastern Mediterranean are “bouncing back” with Monarch Holiday reporting a 90% rise in bookings this year.

There is also further evidence of a growing confidence in the region with Thomas Cook reporting that tourists are “beginning to return” to both Turkey and Egypt. Chief Executive Peter Fankhauser said there are “signs of holidaymakers returning to destinations they had avoided throughout 2016”.

So, whilst Spain will continue to reign this year and other destinations, such as Malta and the Algarve, will no doubt profit from the drop in numbers in Turkey and Egypt, there are signs of a recovery.

Demand for long-haul holidays are also on the rise as British holidaymakers continue to look for new and exciting destinations. Along with the US, which is continuing to grow in popularity due to the low-cost options with airlines such as Norwegian and WOW (the latter offering many in-direct services via Reykjavik from airports across the UK), other destinations such as the Caribbean are also set to welcome more Brits to their shores this year.

According to reports, the Caribbean has seen a 10% increase in visitors from the UK; perhaps driven by safety concerns and positive changes in Air Passenger Duty and the removal of tax on children under 16 which dramatically cuts the cost of a family holiday in the area.

As travel companies work hard to ensure there is extra capacity across Europe and British holidaymakers are offered an attractive choice of destinations, it is important that businesses are able to act quickly to meet the needs of the changing demands of British holidaymakers.

In this fast-paced industry, both tour operators and OTAs need the ability to quickly contract with new suppliers in new destinations, regardless of the local currency, in order to effectively fulfill customer demands.

Virtual Card Numbers (VCNs) allow businesses to achieve this and pay suppliers in 210 countries and over 150 currencies worldwide, saving up to 3% by avoiding FX rate markups and cross-currency fees. Paying in local currency also avoids fees incurred by suppliers for receiving payment in local currency – saving suppliers money can strengthen relationships with travel companies. Learn more about the currency capabilities of WEX VCNs.

For further insight into where travelers are choosing to visit view our infographic, or download our whitepaper, Stay Ahead In 2017 With The Right Payment Strategy.

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