Brits cast aside cost-of-living woes to splash the cash on holiday   

By Lisa James
17/05/2024
Home » Brits cast aside cost-of-living woes to splash the cash on holiday   

UK travellers are budgeting more for their overseas holiday spend, despite the continuing squeeze on household income at home.

ABTA’s foreign exchange service, ABTA Travel Money, reports Brits are spending an average of £369 each during a short break, rising to £660 for a longer holiday.

The average spend per person has increased since 2022, up more than £59 for an overseas short break and rising £231 per person for a longer holiday abroad.

Families with children aged over five are likely to spend the most while on a short break, at an average of £431. On a longer holiday, the highest spend comes from travellers aged 55-64, who spend £721 on average.

Visitors to all Euro currency destinations this summer will see a little more for their money as the value of the pound has increased 2.1% against the Euro and up to 65% against the Turkish Lira compared with this time last year.

ABTA Director of Communications Graeme Buck said: “People are spending more while on holiday overseas and that can’t just be put down to inflation. Over the past two years, UK prices have risen by a total of 9.3% whereas overseas holiday spend is up by 54% for a longer holiday.

“Add in more favourable exchange rates for many holiday destinations, we see over the last few years that there has been a clear shift towards people spending the spare money they may have on holidays and creating memories that will last a lifetime.”

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