Brits overpaying £28 billion by choosing a staycation over a holiday abroad
Many are ditching travel insurance in a bid to make their UK-based holiday cheaper
Research from On the Beach revealed that a family of four taking an all-inclusive holiday package abroad, including transfers, flights, accommodation and ATOL protection, was on average £1,205 cheaper than a staycation.
With over 40 per cent of people saying they will holiday in the UK to save money this year, it’s possible that Brits have wasted £28 billion by choosing a staycation over a holiday abroad.
Zoe Harris, Chief Customer Officer at On the Beach, said: “Holidays give us a chance to escape the day-to-day and decompress, and with all the gloomy news lately, hard-working families will understandably have been keen to get away during the half-term break. But at a time when energy bills are sky-rocketing and the economy is faltering, people need to be careful with their money.
“So, to see that so many people wrongly assume that a holiday in the UK will be cheaper than a trip abroad is worrying, as it may have left people hundreds, if not thousands of pounds out of pocket.”
On the Beach found that 63 per cent of Brits said the cost of living, weak pound and economic turmoil negatively affected their holiday plans. This resulted in 75 per cent saying they have made cutbacks on things they enjoy to go away, like entertainment and nights out (41 per cent), shopping for non-essentials (31 per cent) and cutting Christmas spending (25 per cent).
Ditching travel insurance to afford a holiday
When asked how they would save money on their next holiday, 41 per cent would have a UK staycation instead of going abroad; 33 per cent will make packed lunches instead of eating at hotels/restaurants; 27 per cent will pack hand luggage only; 24 per cent won’t pre-book seats for flights; 18 per cent won’t tip service staff; and 11 per cent won’t be taking out travel insurance.
Harris warned: “For the one-in-10 people planning to ditch travel insurance to save money, all I can say is – don’t. It’s a false economy to save tens of pounds on a policy and forgo the significant financial protection that travel insurance can provide, should you need medical treatment or lose your belongings.
“If you’ve saved to enjoy a well-earned holiday, then my advice to you is to look beyond the borders of the UK to find not only better prices, but better weather, new experiences and new memories.”
The desire to save money by Brits currently could see them sacrificing holidays all together.