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Chapter 2: Price Changes in Global City Destinations
Lowest Prices Compared to Last Year
South Africa’s major cities saw a spike in hotel prices in 2010 because of the FIFA World Cup. However, now that the games are over and the sound of vuvuzelas has faded, so have steep hotel prices – waning by 23% in Johannesburg and 22% in Cape Town.
Some popular high-end destinations such as Cannes, France and St. Thomas in the Virgin Islands are still struggling to make a full recovery from the worldwide recession, displaying price decreases of 14% each, while Dubai – the golden city of the United Arab Emirates, once touted for great promise in both the business and leisure sectors – also fell by 3%.
Political and social conflict and unrest in various regions of the globe, including the Arab Spring, may have played a role in declining hotel prices in cities such as Giza, Egypt; Beirut, Lebanon; Bogota, Colombia; and Chihuahua, Mexico, all meeting the criteria for seeing Travel Warnings issued against them by the U.S. Bureau of Consular Affairs.
The World's Greatest Price Drops