Holiday Euro 2025¹ worth an average of 8 percent more than at home
- 50 percent more value in Hungary in 2025, 30 percent more in Portugal and Spain compared to Austria
- 20 percent more value in Greece and Slovenia, 10 percent more in Croatia and Italy
- Overseas destinations did not become cheaper than in the previous year despite the strong euro, with the exception of South and Central America
- Despite devaluation, significantly less purchasing power in Turkey than in the previous year due to strong inflation
- The value of the holiday euro rose in the USA and Canada, although it is still worth less in the USA than in Austria
- Switzerland remains one of the most expensive vacation destinations
The purchasing power of the euro, i.e. the holiday euro, has once again become an important indicator for summer vacations in 2025. In addition to considerations relating to the current geopolitical crises combined with strong inflation and a sharp rise in energy prices, the value of the holiday euro plays an important role in deciding where to go. On average, the holiday euro abroad in 2025 is 8 percent higher than its value at home, although it is generally worth around 1 percent less than in Austria in 2024 due to high inflation in some major European vacation destinations. Although prices for restaurants and hotels have also risen significantly in Austria in recent years and inflation has been higher than in many other European countries, this has not necessarily been the case for the particularly popular vacation destinations.
„Among the most popular vacation destinations in summer 2025, Hungary will offer the most, around 50 percent more than Austria,” analyzes Stefan Bruckbauer, Chief Economist at UniCredit Bank Austria, adding that “the value of the holiday euro in Portugal and Spain is also significantly higher than in Austria at around 30 percent.”
In Greece and Slovenia, holidaymakers receive around 20 percent more than in Austria and around 10 percent more in Croatia and Italy. Holidaymakers in Germany, France and Turkey receive similar rates to those in Austria.
„You get less for your money on vacation in 2025 than in Austria, around 10 percent less in the UK and around 20 percent less in the USA, despite the appreciation of the euro," says Bruckbauer and continues, “one of the most expensive destinations among the most popular vacation destinations is still Switzerland, where you only get goods and services worth the equivalent of 67 euros for 100 euros.”
Among the vacation destinations that are not among the top destinations, you get around 75 percent more in Bulgaria than in Austria and around 50 percent more in Romania. The holiday euro is also worth significantly more in the Czech Republic and Slovakia, around 30 per cent, and 20 per cent more in Poland and Cyprus. In contrast, you get less than in Austria in Ireland, Sweden and the Netherlands.
„Compared to summer 2024, the relative value of the holiday euro has fallen slightly by around one per cent, as the price increases in some countries were more significant than in Austria, which was only partially offset by exchange rate devaluations,” Bruckbauer calculates and continues, “the value of the holiday euro fell particularly sharply in Turkey, where it lost around 20 percent in value due to 35 percent higher inflation than in Austria, but a simultaneous devaluation of only 27 percent.” Some destinations, such as Germany, France, Italy, Greece and Spain, became insignificantly cheaper in comparison due to higher inflation in Austria.
„Thanks to the strong euro, the holiday euro is worth more this year than last year in Hungary, the USA and especially in Canada,” according to the analysis by UniCredit Bank Austria. In overseas destinations, however, the holiday euro was unable to increase in value despite the euro's appreciation of around 3 percent, as the rise in inflation was stronger in many countries than in Austria. In addition, the euro depreciated against Asian currencies, meaning that on average it is worth 3 percent less in Asia in 2025 than in the previous year. The situation is different in South and Central America, where the holiday euro is likely to be worth around 7 percent more this year, 14 percent in Mexico and 9 per cent in Brazil. In Australia and New Zealand, too, you will get almost 10 percent more this year compared to Austria in 2024.
Finally, the economists at UniCredit Bank Austria point out that the calculation of the holiday euro is not an incentive to go on vacation abroad and that the value of the holiday euro should play a subordinate role compared to health and other safety aspects. They also point out that these are average values and that individual regions (such as London as a central region) may differ. In some countries, the price level refers to the average of goods and services; individual products (especially for tourists) can deviate significantly from this. For this reason, no value was given for the long-distance destinations, only the change. In addition, the fact that the price level in some vacation destinations is so much lower than in Austria is primarily due to the high income level in Austria. If Austria's price level were lower, income levels would also be lower and vacations would be more difficult to afford.
Enquiries:
UniCredit Bank Austria Economics and Market Analysis Austria
Stefan Bruckbauer, Tel. +43 (0)5 05 05-41951;
E-Mail: stefan.bruckbauer@unicreditgroup.at
UniCredit Bank Austria Media Relations
Stefan Wenzel-Hirsch, Tel. +43 (0)5 05 05-52371;
E-mail: stefan.wenzel-hirsch@unicreditgroup.at
1 New calculation with stronger weighting of typical vacation expenditure for many countries, therefore the historical values of past analyses before 2025 are not comparable with the current evaluation.