The price increase this summer in the province of Cadiz is putting our pockets to the limit

07/07/2024

Updated at 08:56h.

The average spending of the people of Cadiz this holiday will increase. Everything goes up and everything goes down, although in terms of prices it is difficult to apply this reality of physics. The year 2023 closed with a3.3% inflation which already affected hotel, food and travel prices during the three summer months. In fact, prices rose last year by 3.6% in the middle of the summer. holiday whirlwind. Families who took the plunge into vacation leisure spent their extra pay, and even a pinch of their savings, on enjoying the sun, the beach or the mountains. The trend, far from declining, has been on the rise and we have just started the most expensive summer in history.

The Government expects to close 2024 with an inflation rate of 3.1%, however, the latest statistics show that the rise in the standard of living is currently at 3.6%.

LA VOZ announced last week that we will face the summer with the biggest price increase in recent times and the Costa de la Luz, Along with the Costa Brava and some towns on the Costa del Sol, these are some of the most expensive areas to spend your holidays. Hotels, bars and restaurants, as well as accommodation, have increased their prices. The budget of the people of Cadiz has increased by an average of 200 euros, going from 1,174 last year to 1,174 euros. 1,300 this year.

This is mainly due to the increase in the percentage of consumers who have planned higher amounts in their holiday budgets. The doctor in Economics Gonzalo Bernardo predicted a 9.2% increase in hotel and service prices during the last Easter campaign and predicted that prices for this holiday would break a record. He was certainly not wrong.

Family spending trends have changed in recent years and there has been a complete change in how we spend our money. «Families reduce food and increase leisure». Bernardo has made it very clear that “some families will decide eat a little worse to be able to travel“This will be particularly noticeable among the younger generation. There are many young people who, as they do not know whether they will ever be able to buy a flat, decide to live life and travel,” said the economist.

The trends of the new generations have changed a lot due to their employment situation. Young people prefer to enjoy and spend on leisure rather than on food or housing.

Some families from Cadiz plan to spend up to 1,300 euros on leisure

Thus, according to the Cetelem Consumer Observatory, 31% of the Spanish people surveyed say they will make a purchase this summer. spending between 601 and 1,500 euros on these holidayswith a average expenditure of 1,093 euros. The number of those who intend to spend more than 1,500 euros is also increasing, with 27% and an average expenditure of 3,091 euros. The percentage of those who will spend less than 350 euros is decreasing, with 23% and an average expenditure of 141 euros; and the percentage of those who will spend between 351 euros and 600 euros is decreasing, with 19% and an average expenditure of 510 euros.

Rental of housing

Families who choose to rent a home on the beach have it even worse. The budget soars. Thus, the Bankinter research centre has indicated that the average cost of Renting a house in August 2024 for a week is, on average, 1,160 euros (compared to 1,055 euros per week in 2023). In other words, the cost of accommodation alone for a week’s holiday this summer already represents an expense of 100% of the Interprofessional Minimum Wage (SMI) for one month.

The average cost of renting a beach house this summer has risen by 10% more than in the summer of 2023 (a year whose increase was 3.75%, and in line with the rise recorded in 2022, when it exceeded 9%). Real estate sources indicate that the increase in the last three years is around 25%. “While the conventional real estate market slows the number of transactions and contains increases in value, the holiday rental market continues with significant average increases.

Going out to restaurants will be one of the activities that the people of Cadiz will do the most these months. This is stated by 62% of them, the same percentage as in 2023. Standing out above the average are the younger consumers between 18 and 24 years old and those between 30 and 34 years old, with 68% of mentions.

Economists point out that from Easter to summer, basic rates have risen by 9.2%

This is followed by 41% who say they will travel around Spain staying in hotels or apartments, increasing by two points compared to the previous year. Those who will make this type of trip the most are those with ages between 45 and 49 yearsand between 40 and 44 years old with 47% and 45% of mentions respectively.

Shopping is the third most mentioned option with 39% of mentions and growing slightly by one point compared to 2023. Here, younger consumers between 18 and 39 years old stand out.

The biggest growth in percentage points is, however, in those who will travel around Spain. staying at a friend’s or family’s house (28%), with 8 points more than in 2023, and trips abroad in hotels (21%). The intention to attend musical shows also increased by 4 points, with 12% of mentions.

Travel expenses

70% of Spaniards plan to travel this summer with an average expenditure that will exceed 1,100 euros per person, with the mostNational trips, with family and by car are the favorite options for this summer and staying in a hotel, the majority preference. This is revealed by the XI Family Tourism Study, carried out by the Spanish Federation of Large Families, in collaboration with the DNA consultancy.

The economic issue continues to have an important weight in the holiday chapter, so that price continues to be the most important element for them when choosing a destination, as indicated by 61% of families. And not only when choosing a destination, but also in accommodation, where the priority of families when asked about the most important variables is «find deals and discounts on price», followed by having support, especially if they are large families.

Specifically, regarding accommodation, the study shows a trend towards tourist apartmentswhich increased by 11%, being one of the preferred options for families for their holidays (56%). The study, which is carried out every year to analyse the tourist consumption patterns of families, offers good prospects for the sector, despite inflation, showing one fact: 46% of families will spend more on travel compared to 23% who consider that they will reduce it compared to the previous year. The data is very positive with respect to 2023, a year in which 39% were clear that they were going to reduce their travel budget.

Article for subscribers only

Access without limits for the best journalism

See comments

 
For Latest Updates Follow us on Google News
 

-

PREV Defense Minister Gallant told hostage families that they are “closer than ever” to reaching an agreement for their release
NEXT Monsignor Francisco Javier Múnera, new president of the CEC