TUI CEO Sebastian Ebel anticipates significant changes in the travel sector given the current economic climate. Speaking to the newspapers of the Funke Media Group, Ebel stated that he expects consolidation across various parts of the industry, specifically naming the hotel and airline segments. However, he does not foresee major insolvencies that would severely impact the market, predicting that the forthcoming changes and mergers will be actively driven.
Ebel also noted a sharp shift in consumer behavior, observing that tourists are becoming more sensitive to costs. He mentioned that people are booking later and that families are scrutinizing their spending more closely because money is tighter than before. He linked this development strongly to the overall economic situation, suggesting that if things do not change, market consolidation will occur, similar to other industries.
Looking ahead to the next year, the CEO predicts an increase in travel prices, particularly if fuel costs remain high. Nevertheless, plenty of budget-friendly destinations remain available. Travelers planning trips to Spain or Greece, for instance, will likely have to pay more compared to those choosing alternatives such as Egypt, Bulgaria, Romania, the Cape Verde Islands, or the Dominican Republic.
For families seeking cheaper travel options, Ebel offered advice centered on budget management when choosing a destination and maximizing flexibility regarding travel dates. He noted that those who can travel outside the peak holiday season, such as in November or February, have better chances of securing lower prices because demand is lower at those times. For those who cannot be flexible, his advice is to be sure to book as early as possible.
