Eastern Europe and the Baltics are top destinations for Brits’ annual holidays according to research by Visa and Forward Thinking.
Lithuania, Croatia and Romania have been found to be among the top five fastest growing destinations for Brits spending their holiday cash after the research looked at data from debit card use at point of sale or ATMs overseas compared with travel money bought from the bureau de change before taking off.
Brits spend more cash abroad
Visa found that UK Visa cardholders have spent more cash on summer holidays than previous years, with spending growing by 25% in 2012-2014.
31% of UK holidaymakers commented that they now travel abroad more than they did five years ago with their spending habits increasing in Romania (80%), Lithuania (61%) and Croatia (57%) in 2012-2014.
Croatia has seen the largest amount of British spending in Eastern Europe with £18.4 million spent on Visa cards during the summer months of 2014.
Romania and Lithuania followed in second and third place with respective spending of £8.8 million and £6.3 million.
The research also highlighted that pubs, bars and restaurants in these countries have seen the fastest growth in spending with Croatia leading the way as expenditure jumped by 202%.
Cash spent in restaurants in the country also increased by 80%.
Domestic holidays on the increase
Kevin Jenkins, Managing Director UK and Ireland at Visa Europe, said that this data suggests a clear desire amongst Brits for Eastern European holidays.
“A third of Brits tell us today they’re taking more overseas holidays than five years ago. The difference though is in the choice of destination,” he added.
Brits are now looking beyond the traditional Mediterranean holiday resorts in order to gain new experiences and Croatia’s “exploding” festival scene and beautiful scenery have made it highly attractive.
If you’re thinking of heading to Eastern Europe this summer, remember to book European travel insurance in advance
Date Created: 15/06/2015