economy
From train travel to staycations: How holidaymakers are adapting to airlines' jet fuel shortage
"I think people will increasingly decide, let's book Portugal, Spain, Italy... let's avoid the Middle East or going long haul," Ryanair's CEO told CNBC.
TL;DR
- Europe is experiencing a jet fuel crisis due to reduced imports from the Middle East and rising prices.
- Airlines are increasing surcharges and canceling unprofitable routes, with Lufthansa, SAS, and Air France-KLM cutting flights.
- Travelers are opting for holidays closer to home in southern Europe (France, Spain, Italy, Greece, Portugal) and exploring train travel.
- Eurostar bookings and train travel across Europe have seen significant increases among UK residents.
- Railways have historically transported more passengers annually than aviation in Europe.
- Economic uncertainty and fears about the job market are contributing to a more economical approach to holidays.
- Staycations and domestic tourism are gaining popularity, with increased searches for UK Airbnb stays.