Amidst the backdrop of high inflation in 2023, Czechs remained steadfast in their pursuit of holiday experiences, as evidenced by the robust financial performance of leading travel agencies. Blue Style and Čedok, alongside the Der Touristik group, celebrated unprecedented success, defying economic headwinds to deliver record profits and serve an ever-expanding clientele.

Blue Style, boasting a 27-year history in the industry, reported stellar figures for 2023, with revenues surging to 8.2 billion crowns. Serving nearly 450,000 clients across 37 destinations, the agency achieved an EBITDA of 560 million crowns, signaling a new pinnacle in its operational excellence.

Čedok, a stalwart in the Czech travel sector, mirrored Blue Style’s triumphs, announcing revenues of 7.8 billion crowns, marking a remarkable 56 percent year-on-year increase. Accompanying this surge in revenue was a substantial rise in the number of passengers served, exceeding 420,000, while their EBITDA soared to approximately 350 million crowns, underscoring the agency’s financial resilience and growth trajectory.

The Der Touristik group, encompassing Fischer, Exim Tours, Nev-Dama, and eTravel, emerged as another standout performer in the Czech market, with revenues surpassing 17 billion crowns. Bolstered by an EBITDA profit in the hundreds of millions of crowns and serving over 850,000 clients, the group reaffirmed its position as a leading force in the travel industry.

Families with children remained the primary demographic for travel agencies, while Blue Style noted a significant clientele among “empty nesters,” individuals enjoying newfound freedom after their children have grown. Popular holiday destinations included Greece, Egypt, Turkey, Bulgaria, and Tunisia, with Spain, including the Balearic and Canary Islands, also attracting substantial interest.

Looking ahead, optimism abounds among travel agencies, with Blue Style projecting further growth and revenues of 10 billion crowns in the Czech Republic for the upcoming year. With revenues already nearing 50 percent of last year’s volume by February 27, 2023, the agency anticipates another triumphant year, aiming to provide dream vacations for over 520,000 clients, signaling a promising outlook for the travel industry despite economic uncertainties.

Article by Prague Forum