In a survey by Travelzoo, it is believed that package holidays could go up by as much as 20%.
According to the survey, four out of five holiday companies believe they will be forced to increase prices, by at least 10%.
There are many components that will effect the increase; Brexit being a major factor and its effect on the pound, the ever increasing cost of oil and ongoing global incidents making many usually popular destinations out of bounds to holidaymakers.
Speaking about the survey, Travelzoo’s Managing Director, Joel Brandon-Bravo said, “The impact of sterling’s fall in particular has not really been felt in holiday pricing to date, however all the signs are pointing in the direction of price hikes for many popular holiday destinations in 2017.
“Until now British travel companies have been absorbing some price increases on costs such as hotel rates set in euros and many have been selling holidays at prices set before the June referendum.
“Businesses cannot do this indefinitely however and we expect pricing for next year’s holidays to increase by at least 10%. For almost one fifth (17%) of those we spoke to the increase could be as high as 15-20%.”