Airbnb vs. Hotels: Finding the Best Value for Your European Summer Vacation
The European summer vacation is a coveted time for travelers, but it comes with financial considerations. With average hotel prices in Europe rising above inflation and airfares hitting a five-year high, this year’s travel landscape is challenging for many. Coupled with growing inflation, consumers are becoming more price-conscious, leading 80% of travelers to rethink their summer plans.
Moneyzine's Breakthrough Study
Moneyzine, a leading financial expert, has released a study that unveils the European cities where Airbnb accommodations offer better value compared to hotels. The team analyzed the average cost per night across 35 European cities, providing a roadmap for cost-effective travel. Here’s what they found:
Top Destinations for Airbnb Savings
Istanbul, Turkey:
61.77% cheaper than hotels ($45.37 vs $118.69)
Second lowest prices overall
Ideal for budget-conscious travelers.
Athens, Greece:
49.53% price drop ($69.67 vs $138.05)
Rich history meets affordability.
Lisbon, Portugal:
48.88% cheaper ($107.51 vs $210.30)
7th most popular summer destination of 2023.
Berlin, Germany, and Paris, France:
Significant savings of $109.66 and $111.38, respectively.
Cities to Avoid for Airbnb: Oslo, Norway, and Tirana, Albania.
Hotels are $8 cheaper on average.
These findings demonstrate significant potential savings for travelers willing to choose Airbnb over traditional hotels.
Tips to Save More
Jonathan Merry, CEO of Moneyzine, also provided four essential tips to maximize savings:
Plan Ahead for Meals: Utilize kitchen facilities and choose lunch over dinner to eat out.
Maximize Travel Credit Card Benefits: Sign up for rewards and opt for credit cards with bonuses and travel-related perks.
Look for Vouchers and Free Activities: Research discount deals and take advantage of free or discounted admission on certain days at famous attractions.
Pack Strategically: Keep luggage lightweight, roll clothes, and adhere to the airline's policies to avoid fees.
More for Less!
Value-driven decisions have become essential for summer vacation planning in a year marked by soaring prices and high inflation. Moneyzine's study serves as an insightful guide for travelers, revealing that Airbnb can be a more economical option in many beloved European cities. Along with wise planning, adherence to budget-friendly tips, and a readiness to explore alternative accommodations, travelers can still enjoy a memorable European summer without breaking the bank.
