Unsold holidays will mean falling prices

Start packing your bags for the Balearics because a large amount of unsold package deals will mean that prices for holidays, accommodation and flights will fall significantly after the August bank-holiday weekend, the Daily Telegraph reports.

According to the British group 'Tui', which owns Thomson Holidays and FirstChoice, the volcanic ash cloud crisis, the Government's cost-cutting drive and British Airways staff strikes caused consumer confidence to weaken over the last few months. Those factors, plus the hot Summer weather that England is experiencing means that holidays abroad simply aren't being sold.

One travel industry veteran warned that 'operators would hold their nerve this month and avoid discounting during the peak season as they would rather fly an empty plane and leave a room unsold than reduce the price at the most profitable time of year.'

Favourite long-haul destinations such as Turkey, Egypt or Florida will remain relatively impervious to the changes in the market but deals will be found in abundance after 30 August.

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