- Half of Brits have been putting more money into their savings since COVID-19, with 41% willing to spend more on holidays
- One in six adults are planning on upping their spending whilst abroad
- Only 6% of adults plan to reduce their holiday spending
- 34% are planning to take longer holidays New research* by travel insurance provider battleface has found that while 50% of Brits have been saving more since the pandemic, two-fifths (41%) of Brits are planning to spend more on their holidays once international travel resumes. The survey, carried out by Opinium, found a sizeable number of adults planning to spend their COVID cash on international escapes.
Once abroad, spending habits will likely remain the same, with over a third (36%) planning to spend the same amount as before the pandemic. One in six, however, are planning to up their spending whilst on holiday, averaging an expected extra spend of £585 per trip. Just 6% of adults were planning to reduce their spending by £432 on average.
Many are looking beyond this year to plan their next trip abroad. Just over a third (38%) of adults reported that their next international holiday was planned for 2022 (38%), with a further 28% stating they would next be travelling in 2023. This summer, many people are choosing holiday destinations in the UK. With the current restrictions against international travel, staycations, just as in summer 2020, are increasingly popular.
While three fifths (61%) are planning to travel closer to home, around a third (34%) are planning to take longer holidays than before the pandemic.
Katie Crowe, Director of Communications for battleface, said: “It is clear that the pandemic has impacted how people want to travel in the future. Many Brits are uncertain about travelling abroad this summer and it is not surprising that many families are looking to 2022 and 2023 for their next trip. Families are choosing to save for future holidays, where they will want to spend more and stay away for a longer period.
Regardless of how much people are planning to spend on their trips, they need to ensure that they have adequate travel insurance to protect them. Choosing the wrong policy could mean that their holidays end up costing much more than they had planned. battleface insurance policies remain valid regardless of changes in FCDO advice or any change in a country’s traffic light colour.”
*The study of 2,000 UK adults was carried out between 11th and 15th June by Opinium Research on behalf of travel insurance provider battleface to look at the immediate motivators and barriers to international travel for 2021.