Paris Reaches for More of Travelers’ Gold
Skift Take
Key Points
- Paris has significantly increased tourist taxes as it prepares for the 2024 Summer Olympics.
- Luxury travel is expected to continue booming in 2024, with trends like group travel bookings and visits to lesser-known destinations.
- Europe's largest tour operator, TUI, has proposed delisting from the London Stock Exchange to simplify its business structure.
Summary
Paris is becoming more expensive for tourists as it raises taxes and room rates ahead of the 2024 Summer Olympics. Meanwhile, luxury travel is set for a strong year, with trends like group bookings and visits to unexplored locations. Additionally, TUI, Europe’s largest tour operator, has proposed delisting from the London Stock Exchange to streamline its operations.
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Episode Notes
A trip to Paris is getting more expensive this year. Visitors to the French capital have been hit with higher tourist taxes as the city prepares to host the 2024 Summer Olympics, writes Global Tourism Reporter Dawit Habtemariam.
Habtemariam reports that tourist taxes on stays in Paris have more than doubled. In addition, some tour operators have seen their room rates surge due to the Olympics. An executive at Kensington Tours said it’s seen year-over-year increases of at least 20% in the weeks leading up to the Olympics.
Habtemariam adds that some of Paris’ major tourist attractions, such as the Louvre, have bumped up their prices.
Next, luxury travel is expected to continue its boom this year. Travel Experiences Reporter Selene Brophy outlines seven key trends to look out for in luxury travel, according to several figures in the sector.
Brophy reports that group travel bookings will once represent big business for tour operators. Trips aboard private yachts for small groups are also expected to be popular this year. And Brophy notes that luxury travelers will likely continue to visit largely unexplored locations, noting that tour operator Black Tomato is seeing growing interest in lesser-known areas in Peru.
Finally, Europe’s largest tour operator TUI has proposed delisting from the London Stock Exchange as a way to simplify its business structure, writes Travel Experiences Reporter Brophy.
Brophy reports TUI shareholders will make a decision on the matter at its annual meeting next month. If they approve the move, TUI would likely delist from the London Stock Exchange in June. However, the company would retain its full listing on the Frankfurt Stock Exchange as roughly three-quarters of its share transactions are already conducted directly in Germany.
Episode Presenter and Producer: Jane Alexander
Photo Credit: Paris tourists outside of shops selling trinkets. Skift
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