Going on holiday can now cost an arm and a leg

In Hungary, four-star hotels on Lake Balaton in July cost between HUF 57,000 and 94,000 a night for two people on a half-board basis. Similar accommodation in the spa resorts around Baranya County costs HUF 59,000, while in Hajdúszoboszló prices range from HUF 62,000 to HUF 85,000. These prices are likely to increase by 5-10% during the August holiday period.

According to the latest data from the Central Statistical Office (KSH), the increase in accommodation prices has continued this year.

Compared to the same period last year, accommodation prices rose by between 8% and 19% in June.

This year, the price of guesthouses and apartments has already reached the level of 3-star hotels a year ago.

Prices for apartments and guesthouses are above 32,000 forints per night for two people, which is an annual increase of 19% and 16%, respectively.

The average price of a three-star hotel is now around HUF 40,000, which is an 11% increase compared to June last year. Four-star hotels cost 8% more at HUF 62,000 on average across the country.

As the graph above shows, the price of many types of accommodation has doubled compared to pre-Covid levels.

We asked tourism experts how much a holiday in neighbouring countries now costs.

According to tour operators, the cost of half-board accommodation for two people in Austria ranges from HUF 65,000 to HUF 82,000 per night. However, we have also seen prices of around HUF 130,000 per night in more upmarket areas.

In Slovakia, the price of a four-star hotel with breakfast or half-board ranges from €180 to €220 (HUF 72,000 to HUF 88,000) in summer. However, prices in Bratislava and the High Tatras differ, mainly due to the Tatras' recent surge in popularity. This is mainly due to climate change. There, you don't need to use air conditioning at night to keep the temperature down; you can simply open the window.

Prices in Croatia also vary widely depending on how close to the beach you want to stay. Even the most persistent tourist will struggle to find 4-star accommodation for under €300 (HUF 120,000). The average price per night for two people is between €300 and €350 (HUF 120,000-150,000). The higher price is usually for a better location.

In Slovenia, the price of a 4-star hotel ranges from HUF 91,000 to HUF 129,000. Holidays near the picturesque Lake Bohinj are more expensive than those a little further away, perhaps in the mountains, or on the Slovenian coast.

The coast in Poland is full of locals. Although many new hotels have been built, hotels are generally fully booked. Four-star hotels cost between HUF 70,000 and HUF 120,000 per night for two people. If you're travelling to Lublin, Łódź, Kraków or Warsaw rather than the Baltic coast, you can find four-star accommodation for between HUF 40,000 and HUF 72,000. Although the currency in Poland is the zloty, euro-based pricing is common.

When it comes to travelling to Romania, prices very much depend on your destination. The coast is small and crowded, with crazy prices. You could pay 200–300 euros (HUF 80,000–90,000) for a night, but in the Transylvanian border regions, such as Timișoara and Oradea, prices are around 100–150 euros (HUF 40,000–60,000) at most.

Szallas.hu recently reported the results of a survey which showed that, while Hungarian tourists continue to be attracted to the Croatian coast, more and more of them are considering alternative options abroad or at home. The most common reasons for not planning a trip to Croatia are financial reasons or domestic holiday plans.

Many people are choosing other easily accessible coastal countries, but Italy, Greece and Bulgaria remain popular alternatives for holidaymakers. However, one of the largest domestic accommodation portals has noted a growing interest in destinations close to nature that offer active relaxation. Examples of such destinations include Austria, Slovakia, Slovenia and Romania.

Cover image (for illustration purposes only): Portfolio