The spending habits of holidaymakers around the world have finally been revealed after a recent study was conducted across different nationalities.
My Travel Cash looked closely at how we spend our money while we’re on holiday and revealed some fascinating insights into how these habits different from country to country.
Spending while away
The amount of money we spend while on holiday largely depend on our age and gender while the destination we choose to visit can also impact our habits.
Holidaymakers heading for the Spanish mainland – which consists largely of Brits – are most likely to spend their money on food. Very few of us are able to resist dining out in Spanish restaurants, with the average traveller spending £33 per meal with tapas the most popular choice for Brits abroad.
Meanwhile visitors to the USA are more likely to spend their money on consumer goods and gifts, potentially making use of the preferential exchange rate between the pound and the dollar.
With many bargains to be had in the USA, many tourists load up on discounted designer clothing before making their return trip home. This habit was mirrored in Italy where travellers also splashed the cash on designer gear instead of fine dining.
Tourists visiting Paris broke the mould by choosing to spend their cash on five-star hotels and eating out in top restaurants, leaving very little for souvenirs.
Inside our wallets
However, it’s not just where we’re going that affects our spending but also where we’re from.
My Travel Cash looked at which UK residents were most and least likely to spend money while away and found that it is our Scottish residents north of the border who are most likely to splash out.
The Welsh, on the other hand, are much more frugal and spend the least whilst on holiday.
Perhaps unsurprisingly, men were also found to be a lot more relaxed about their cash when away from home while women were more cautious with their budgets and therefore spent less.
Are you thinking of travelling abroad this year? Remember to book European travel insurance in advance to keep you and your cash protected
Date Created: 11/09/2015