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We may still be watching our pennies as the New Year approaches, but when it comes to the list of things we want to cut back our spending on, it seems that holidays are the last thing we want to see on it.
The latest PwC consumer behaviour and travel survey has revealed that Brits are more likely give up their passion for fashion, forgoing spending on clothing, shoes and accessories, and their penchant for the occasional takeaway or meal out on the town, rather than their annual breaks over the next 12 months. Commenting on the figures, Head of hospitality and leisure David Trunkfield said: “Hard pressed UK consumers are taking a close look at the holidays they have and thinking carefully about what they do and how best to spend their money.
“They really don’t want to give up holidays unless they have to.” It seems that rather than strike holidays from their 2013/2014 calendars Brits are opting to get savvier with the way in which they take their trips. According to Trunkfield they are taking shorter foreign holidays, rather than plumping for a staycation, seeking out cheaper destinations and spending less when they get there.... all of which means that holidays are definitely still in over the course of the coming year! The only groups who are exercising more caution over their holiday spending over the coming year are those who are middle aged or less affluent.
The research findings reflect those of the latest the Holiday Confidence Index created by First Rate in partnership with the Institute of Travel & Tourism, University of Wolverhampton and YouGov.
It found that 44% of the 8,000 holidaymakers questioned don’t intend to limit themselves to just one break abroad next year, while a further 22% plan to pencil in a minimum of three holidays into their diaries over the next 12 months. The research also revealed that while over half of travellers were planning to keep their holiday spending at 2012 levels, many were keen to claw back costs on their actual holiday booking or when securing their travel money – suggesting that there will still be room for the odd sangria or candlelit dinner for two once on a holiday is underway.
If you are planning a holiday in 2013/14, it is important to secure your travel insurance in advance.
Date Created: 02/12/2013