Summer Holiday Spending by Britons to Rise by £700 in 2023
Summer Holiday Spending by Britons to Rise by £700 in 2023
According to a study, an average British traveller would spend around £700 more this year on international summer breaks. The average spend is anticipated to go up to £2,115 from £1,425 last year. And this includes expenses towards lodging, airfare, and cash spending.
As per Finder, a personal finance comparison website, Spain retains the top spot on the list of most preferred destinations. Spain saw £11 billion spent by UK residents in 2022 and the number is expected to stay the same this year.
France is in the second spot across Europe with spending of £4.9 billion, followed by Greece (£3.3 billion), Italy (£2.8 billion), and Portugal (£2.5 billion).
British tourists continue to travel in great numbers to the US, attracted by its theme parks and the absence of a language barrier. They spent £5.1 billion there last year.
Even after facing the cost-of-living crisis, two-thirds of respondents (66%) mentioned willingness to travel abroad. The number’s up from 53% the year before.
However, 27% do not intend to spend any money on international vacation this year while 7% can’t decide yet.
Moreover, Finder mentioned that the level of expenses by British on abroad holidays is returning to the pre-pandemic levels. In 2020, it decreased to £13 billion and made an upward return to around £50 billion last year. And this rise is predicted to continue.
“Travelers are making up for trips lost to Covid,” said Family Vacation Guide’s founder, James Brockbank. He added, “This pent-up demand has led to a surge in bookings and a willingness to spend more on destinations. This, coupled with a desire for memorable experiences and a break from the monotony of daily life, has prompted people to allocate a higher budget for their holidays.”
Liz Edwards, editor-in-chief of Finder, added more comments, stating that increased costs of most holiday elements are also a reason for this increased spending. And, travellers still prefer splashing out on international getaways.
She said, “There was a boom after Covid rules were relaxed and in the first few months of this year more people were booking holidays because they couldn’t wait to get away. The cost-of-living crisis has had an impact Travel agents have also reported while consumers have less money, overall they’re still prioritising holidays.”
According to Ms Edwards, recent trends indicate tourists are booking their vacations earlier to avoid normally crowded times.
According to Travelzoo’s James Clarke, travel had been a predictable and traditionally seasonable landscape earlier. Travellers usually waited for last-minute deals and most bookings happened during winter sun holidays and summer holidays. However, Covid broke that pattern and tourists are no longer waiting for seasons. He states this year’s surge is one of the biggest for travellers booking vacations for 2023 as well as 2024. A strong future can be anticipated with so many individuals looking for a variety of vacations and experiences.
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