The cost of living crisis has not hindered the Slovakian’s appetite for travel in 2023. The number of outbound departures is enjoying steady growth, although travellers prefer low cost destinations such as Bulgaria, Turkey and Greece over more expensive locations, and are economising when it comes to travel.
Airlines continue to post strong growth in value sales terms in 2023, thanks to high ticket prices. In volume terms, airlines are also witnessing a robust recovery, although they have still not reached pre-pandemic levels.
The slow return of tourists from key source markets with a high visitor spend, and the gradual recovery of MICE tourism, has impacted demand for luxury and upscale hotels. Due to the upward pressure on prices, many guests have downgraded their choice of lodging, with some opting for lower priced accommodation, which has benefitted budget hotels, hostels and campsites.
Travel intermediaries continue their recovery and are posting a good performance in 2023. Direct suppliers, however, outperform travel intermediaries.
Travel is likely to suffer from the continued threat of high inflation and rising prices in 2024 and the immediate future. This will impact the number of trips undertaken in Slovakia, whilst tourists will look for cheaper options and will possibly downgrade, leading to delays in the volume recovery of premium travel services and luxury hotels.
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Travel
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
See All of Our DefinitionsThis report originates from Passport, our Travel research and analysis database.
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