10th August 2015
Despite the backdrop of a stronger economy and ultra-low inflation Britons are cutting back on their downtime spend as new research shows fewer of us are choosing to holiday abroad.
The analysis from Halifax found less people have been on holiday in a foreign destination in the last 12 months and fewer are planning to go abroad this year.
In fact it concluded that 46% of people – less than half – will head for other countries this year, a significant reduction on 2014 when 56% of people managed to escape the British weather.
In addition, over a third of people, at 36%, have not been on holiday abroad in the last 12 months, up from just over a quarter, at 28% in 2014. Notably, more than a quarter of people, at 28%, do not intend to go on holiday at all.
‘Staycations‘ appear to be an attractive alternative, with a fifth, at 22% choosing to take their main holiday within the UK this year, reflecting holidaymakers’ current spending priorities.
Some 36% said accommodation was the main priority, well above the 19% who asserted the destination was their chief concern.
The vast majority of those, at 73%, who went on a trip abroad in the last twelve months tried to save money on the overall cost, with 39% shopping around for deals and 23% using low cost airlines, while15% even resorting to taking their own food and drink.
Jon Roberts, Halifax credit cards said: “It’s clear that despite the improving economy, many people are still not ready to splash the cash on foreign holidays. The spending money you take is one of the biggest considerations when planning a well earned break and many people could save extra by taking out a fee free credit card such as the Halifax Clarity card instead of buying local currency. This is also a much safer way to spend money abroad.”