According to a recent study by the investment bank, Goldman Sachs, more and more people prefer to arrange…
According to a recent study by the investment bank, Goldman Sachs, more and more people prefer to arrange their own summer break, using low cost airlines such as easyJet, rather than buy a package holiday.
Many people have already realised that arranging a trip independently means that they are able to put together the holiday they actually want. The report now confirms that booking flights and hotels independently often represents much better value, with savings of up to 70% on package prices.
The report states: The raison d`etre of a package holiday company is that it should be cheaper to book a package rather than doing it yourself. However, in 70 per cent of cases, we found that it was cheaper to book your own flight and hotel separately.
We believe the relative discrepancy is quite compelling and indicates that the package holiday industry is potentially in terminal decline – especially with more single people, as opposed to families, going on holiday, increased online bookings and the rise of the low-cost airline industry.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.