Brits to spend more on holiday in 2014

According to a recent survey by TripAdvisor, a third of Brits are planning to spend more on their holidays in 2014.The independently monitored survey asked around 19,000 people about their holiday spending habits and found that this coming year, Brits are planning on splashing out a little bit.

The findings come despite a lingering doubt about the recovery of the economy and overall pessimism about all things financial. Another key finding is that holidays are getting shorter but more frequent.

On the other side of the coin, hoteliers and those who profit from the tourism trade are slightly more optimistic about the coming year. More than half plan to increase room rates to meet the higher demand and increased spending.

Many Brits are finding the extra money by cutting back in other areas of their lives. It seems that even when times are tough, the holiday is still an essential part of our lives. Julio Bruno, global vice president for TripAdvisor said: “Despite not being overly optimistic about the economy, people seem to have adapted. Many are planning to take more trips this year and they are willing to make sacrifices in other aspects of their lives in order to have a holiday.” He added: “Hoteliers are clearly encouraged by travelers' plans to take more trips, demonstrating rising confidence with plans to increase room rates and invest more in their businesses.”

Apparently, 88% of travelers say it is worth making sacrifices throughout the year in order to have memories from a holiday. 8% said they would cut back on childcare costs and 6% said they would cut back on their kids’ education spending in order for the little ones to be able to enjoy a holiday. It also turns out that spending on holiday and other factors like travel insurance are more important than giving to charity. Well, like they always say, charity begins at home.

Date Created: 18 September 2013

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