Brits cutting the cost of holidays this year

Published on 1 January 1970 by Raffick Marday

A holiday is still a top priority for the majority of Brits, but many of us are planning to cut the cost of our getaway this year.

New research has found that more than three quarters of Brits are planning to cut the cost of their holiday this year, and intend to spend less than in 2011.

Of those who are planning a holiday abroad this year, it was found that 13% intend to stay with family or friends in order to save on accommodation.

While 17% say they will stay in a hotel, 12% said they will be booking a self catering break and 10% will embark on an all-inclusive holiday.

“Our research suggests that even though a number of us may be aiming to stick to a strict budget next year, people are still finding a way to ensure they have a nice break - whether it's in the UK or abroad,” said David Barrett, Sainsbury's Travel Insurance Manager.

It was also found that there is a shift in when people book their holiday, with just 6.8 million people planning to do so by the end of February, compared to 13.4 million people in the same period last year.

As many as 23% plan to book holidays between March and June, and 10% plan to book theirs between July and September,.

“More people will delay booking their holiday this year, presumably hoping to secure a better deal and the majority of us are aiming to reduce our spending money too,” added Mr Barrett.

Many holidaymakers use prepaid travel money cards, as a way of bypassing expensive bank and ATM charges while abroad.

The top prepaid credit cards available at the moment include the Phones4U Escape Money Travel Card, allowing customers to withdraw cash for free from over 1.5 million ATMs worldwide.

Also available is the Orange prepaid card, which is currently offering customers a refund on the £5 sign-up fee when they load £20.

This offer is available until 31st January, but only with compareprepaid.co.uk.

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