An analysis conducted for The Guardian indicates that costs for trendy locations may surge by almost 60% compared to 2022.
The cost of renting a car for overseas travelers has increased by almost 60% since the coronavirus pandemic. iCarhireinsurance.com’s recent study reveals that the average price of car rental for a week is about £565 for six popular destinations. Visitors to Turkey’s Dalaman region can expect to pay an average of £461 for a week of car rental during the first week of August, which is over 50% more than last year. Car rental companies sold off their inventory during the pandemic as demand plummeted, causing rental prices to skyrocket in 2022. As business resumed after restrictions were lifted, a worldwide semiconductor shortage made it difficult for companies to replenish their vehicle stock.
As customers returned to rental car forecourts last year, costs surged, and some companies had to purchase vehicles at inflated prices due to shortages. While some destinations like the Greek island of Crete and Dubrovnik in Croatia may be cheaper this summer compared to the same period last year, the overall cost has risen by 5%. Tourists are advised to book early to obtain the best rates. According to iCarhireinsurance.com, the price of a summer rental in Barcelona increased from £480 in February last year to £609 in May. Ernesto Suarez, the CEO of iCarhireinsurance.com, warns that prices could skyrocket again if demand outstrips supply this summer, as it did last year. Therefore, he recommends securing your rental as soon as possible, as many firms provide free 48-hour cancellation in case prices drop.