Holiday Euro 2026:¹ worth an average of 9 per cent more than at home
- A third more value in Portugal, a quarter more in Spain, Hungary and Turkey compared to Austria
- 20 percent more value in Greece and Slovenia
- Overseas destinations did not become cheaper than in the previous year despite the strong euro, with the exception of Asia thanks to Japan, which became cheaper again due to currency devaluation
- Despite devaluation, significantly less purchasing power in Turkey than in the previous year due to strong inflation, but also in Hungary due to appreciation
- The value of the holiday euro rose in the UK, USA and Canada, although it is still worth less in the USA than in Austria, a similar amount in Canada and the United Kingdom
- Switzerland remains one of the most expensive holiday destinations
The purchasing power of the euro, i.e. the holiday euro, has once again become an important indicator for summer vacations in 2026. Alongside considerations regarding the current geopolitical crises, coupled with high inflation and sharply rising energy prices, the value of the holiday euro plays a significant role in deciding where to go on holiday. On average, the holiday euro abroad in 2026 is 9 per cent higher than its value at home, although due to high inflation in some major European holiday destinations, it will generally be worth around 2 per cent less than in 2025 when compared to Austria. 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 holiday destinations.
“Among the most popular vacation destinations in summer 2026, Portugal will offer the most, around a third more than Austria”, analyses Stefan Bruckbauer, Chief Economist at UniCredit Bank Austria, adding that “in Spain, Hungary and Turkey, too, the value of the holiday euro is significantly higher than in Austria, at around a quarter.”
In Greece and Slovenia, holidaymakers receive around 20 per cent more than in Austria and slightly more in Croatia and Italy. Holidaymakers receive similar rates to those in Austria in France, Canada and Germany, but also, thanks to devaluation, in the United Kingdom.
“You’ll get less for your money on holiday in the US in 2026 than in Austria – around 10 per cent less – despite the appreciation of the euro”, says Bruckbauer, adding, “Switzerland remains one of the most expensive destinations among the most popular holiday countries, where 100 euros will only buy goods and services worth 69 euros.”
Among the vacation destinations that are not among the top destinations, you get around 70 per cent more in Bulgaria than in Austria, and around 40 per cent more in Romania and the Czech Republic. In Cyprus, Poland and Slovakia, too, the holiday euro is worth significantly more, around 20 per cent. In contrast, you get less than in Austria in Ireland, Sweden and the Netherlands.
“Compared to summer 2025, the relative value of the holiday euro has fallen slightly by around two per cent, as price increases in some countries were more significant than in Austria, which was only partially offset by currency devaluations”, Bruckbauer calculates and continues: “The value of the holiday euro fell particularly sharply in Turkey, where it lost around 15 per cent of its value due to inflation being 30 per cent higher than in Austria, whilst the currency depreciated by only 22 per cent.” Some destinations became marginally cheaper in comparison due to higher inflation in Austria, such as France and Italy.
“Thanks to the strong euro, the holiday euro is worth more this year in Canada, the United Kingdom and the USA than in the previous year”, according to the analysis by UniCredit Bank Austria. In overseas destinations, the holiday euro failed to gain in value despite a rise in the euro’s value of around 4 per cent, as inflation rose more sharply in many countries than in Austria; furthermore, the euro lost value against South and Central American currencies, meaning that on average in 2026 in South and Central America it is worth 4 per cent less than last year. The situation is different in Asia, where the holiday euro is likely to be worth around 5 per cent more this year, mainly thanks to Japan, where the renewed devaluation of the currency and lower inflation have increased the value of the holiday euro by 13 per cent; as a result, the holiday euro is likely to be worth roughly the same in Japan as in Austria.
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 note 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 for goods and services; individual products (especially for tourists) may deviate significantly from this. For this reason, no specific value was given for long-haul destinations, only the change in value. Furthermore, the fact that the price level in some holiday 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, the income level would also be lower and holidays would be less affordable.
1 The new calculation places greater emphasis on typical holiday expenditure for many countries; consequently, the historical figures from previous analyses prior to 2025 are not comparable with the current analysis.
Enquiries:
UniCredit Bank Austria Economics and Market Analysis Austria
Stefan Bruckbauer, Phone: +43 (0) 50505-41951;
Email: stefan.bruckbauer@unicreditgroup.at
UniCredit Bank Austria Media Relations
Matthias Raftl, Phone: +43 (0) 5 05 05-52809;
Email: matthias.raftl@unicreditgroup.at
