Almost half of Brits planning a holiday this year are confident that they will be able to spend as much on their break as last year, despite ongoing financial woes.
According to a new survey by M&S Money, 42 per cent of people reported that they expect to splash out the same amount on travels this year as they have done before.
Meanwhile, just 17 per cent of travellers reported feeling the pinch of the tumultuous financial climate, saying that they plan to cut their holiday spending this year. At the other end of the spectrum, 32 per cent of holidaymakers said that they planned to spend even more money on their travels this year as opposed to last year, splashing out an extra £365 each on a fabulous break.
James Yerkess, M&S’s head of travel money, said, “It is encouraging that although family finances have been squeezed by the economic downturn, so many people are confident they will be able to maintain their holiday spending this year or spend even more.
“While the rising cost of inflation means an increase in spending is inevitable for many, there are ways for … savvy holidaymaker[s] to maximise their budgets,” he added.
Forty-four per cent of the travellers questioned for the survey said that they expected their main expenditure whilst on holiday to be eating out, with 12 per cent feeling they would splash out most on activities and days out.
