A growing number of Brits who are desperate to flee the cold snap are planning on spending a massive £22.1 billion on holiday escapes.
The latest findings from Sainsburyís Finance show that cost-conscious holidaymakers are looking to book their trips later though, and some will even stay within the UK in order to stick to their budget.
Just under half of those surveyed are planning to holiday abroad and 13% plan on staying with friends or family to reduce costs. A further 12% say they will book a self catering break and 10% are looking for all inclusive holidays. Only 17% said they are planning to stay in a hotel.
The research also found that budget savvy Brits are actively looking for ways to cut back. More than three quarters of those taking a holiday this year intend on cutting costs and spending less than during previous years.
Brits plan on spending a massive £22.1 billion in total on holiday escapes throughout the year. The average amount people are spending on a holiday in 2012 is £756.
David Barrett, Sainsbury’s Travel Insurance Manager, commented; ìEven 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.î
“It appears that 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.
ìWe would also encourage holidaymakers to carefully consider their travel money and travel insurance and shop around for the best value for money without forfeiting quality.”
One way to reduce holiday costs could involve taking out sufficient travel insurance. If you are planning more than one trip this year, it could be worth taking out an annual policy.
Compare travel insurance with Money Expert.