Tui profits soar 35% as tourists look for more affordable destinations

Cash-strapped consumers are still prioritising spending on holidays but are choosing more affordable destinations including Egypt, Bulgaria and Tunisia, according to Europe's biggest package trip operator.

- Joanna Partridge

Tui said new customers with smaller budgets who were unable to find package holidays in traditional locations such as Spain for their annual break were looking elsewhere.

Inflationary pressures had eased, the travel company said, and the average selling price of its holidays had levelled out, although the cost of a trip remained at a "significantly higher level" compared with 2019.