Holidays are households’ top spending priority when it comes to splashing discretionary cash, ahead of dining out and home renovations, a survey has indicated.
Although many people have just settled into a “back-to-school” routine, another holiday could be just around the corner for some, the research suggests.
Nearly half (46%) of people surveyed voted holidays a top spending priority, ahead of spending on clothes, shoes and accessories (35%), eating and drinking out (33%), home and garden renovations (32%) and leisure activities (25%).
People were able to choose up to three spending priorities in the research.
The survey, commissioned by Travel Counsellors, found even those surveyed who see themselves as “disciplined” savers and rarely treat themselves see holidays as a priority, with almost two-fifths (39%) agreeing.
When asked about broader financial goals, nearly a quarter (22%) of people surveyed said their top ambition would be to have enough cash to travel the world while just 7% cited major life milestones such as a wedding.
Nearly three-quarters (71%) of people surveyed had taken a holiday in the past 12 months.
About a third (34%) of holidaymakers surveyed estimated they will spend more on holidays this year than last, with 56% planning to spend around the same and 9% looking to cut back.
While people typically spent between £501 and £1,000 on a single holiday booking in the past year, those earning over £120,000 spent £9,501 to £10,000 on a single trip.
The research also found the most popular holiday luxuries that people enjoy are local shopping and buying souvenirs, luxury accommodation, drinks at scenic venues or rooftop bars, and dining out at high-end or famous restaurants.
Steve Byrne, chief executive officer of Travel Counsellors, said: “Our latest data shows people are not just dreaming about holidays – they’re planning, saving and spending to make them a reality.
Get a free fractional share worth up to £100.
Capital at risk.
Terms and conditions apply.
Go to website
ADVERTISEMENT
Get a free fractional share worth up to £100.
Capital at risk.
Terms and conditions apply.
Go to website
ADVERTISEMENT
“That tells us travel isn’t just about taking a break, it’s about the experiences, connections and memories that really matter.”
The survey was carried out by Censuswide among 2,000 people across the UK in June.
