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TUI expects tourism to bounce back in 2021 - for May 50 percent of travel packages sold out Shutterstock

TUI expects tourism to bounce back in 2021 - for May 50 percent of travel packages sold out

By  The Dubrovnik Times Jan 04, 2021

The largest German travel company, TUI, is counting on a "largely normal summer" when it comes to vacations in 2021.

"All our market research shows the enormous desire of people to go on holidays again after these difficult corona times," said the head of the TUI tourism, Fritz Joussen, in an interview with Rheinische Post.

He estimates that special offers will be sold out quickly, especially for destinations in the Mediterranean, with Spain, Turkey, Cyprus and Portugal at the top of German’s wish lists for this summer. And Croatia is traditionally a magnet for German tourists.

TUI stated that for May, 50 percent of the vacation arrangements have already been sold. However, TUI will offer only 80 percent of airline flights compared to the years before the corona crisis.

All 16 cruise ships available to TUI will be in operation this year. Joussen expects that travel restrictions will soon become unnecessary if "particularly vulnerable groups are protected" by vaccination. But added that it will take another year to get back to the levels of 2019.

As for prices, they will generally remain the same as they were in 2019 and 2020, says Joussen, but the head of this largest European tour operator believes that tourists will still spend more money. “Customers now choose to select more luxurious products. Many have more money at their disposal so instead of a four-star hotel they book five-star hotels.”

And it isn’t only the German tour operator that expects a serious bounce back this year, economists expect a significant increase in consumption in the second half of 2021.

According to economic analysts at DZ Bank people, out of fear of losing their jobs or lower earnings, tightened their belts more and left money in their savings accounts. In addition, store closures and cultural offerings due to lockdown have significantly reduced consumption.

DZ estimates that the Germans saved 16 Euros last year out of every hundred that they earned. The BVR Banking Association even estimates that value was 17 percent. These figures represent record savings, according to the Bureau of Statistics, the largest share of savings was measured in 1991 and 1992, when it was 13 percent.

 

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