We may have slipped back into recession, but it seems that many of us are refusing to cut back on one thing – the annual trip abroad.
We all love a holiday, and new research has revealed that the vast majority of us are planning on packing our bags and heading off somewhere nice once again this summer.
Research by American Express has found that Brits will spend a whopping £32 billion collectively on holidays this year.
It’s something of a change from last year, when 21 per cent of people chose to stay at home in the name of austerity. But while our finances have not really changed, our passion for a holiday has – just 9 per cent are planning on staying at home this year.
In addition, almost half of us are planning on making the holiday a “major” trip of a week or longer – to really make the most of the time off.
“Last year saw many people exercising frugality in the face of difficult economic conditions, but it is promising to see that this year we are likely to see a turnaround in that trend,” said Julie Hay, head of British Airways American Express Credit Cards at American Express.
The average holidaymaker will spend £923 on their trip, including flights, accommodation and spending money. More than 60 per cent of us will be going abroad, while 28 per cent said they are planning a “staycation”.
However, no matter where we’re going or what we’re doing, it seems that most of us will be trying to save as much money as possible.
“We are seeing a rise in the number of alternative and innovative ways of saving money while on holiday,” added Ms Hay.
“For example, our research found that 47 per cent of UK adults have or would consider a “house swap” holiday; exchanging properties with another person or family either in the UK or abroad, as a way to save money and have a new experience.”