The average Brit will spend a staggering £207,824 in their lifetime, on HOLIDAYS – according to new research.
A new study into the nation’s travel habits has revealed the extent to which we live for holidays – with Brits now enjoying TWO UK holidays or mini breaks each year and at least one foreign holiday (on average).
The research shows an average yearly spend of £805 on EACH UK break and a further £1,742 on each holiday abroad, bringing the yearly spend for Brits (including two UK holidays and one holiday abroad) to £3,352.
And the study revealed the importance we place on annual holidays, with 86 percent claiming holidays are: “the highlight of the year” and a further 54 percent going so far as to say “life would not be worth living without holidays.”
But, for some – being able to afford regular holidays is a struggle, as 33 percent of Brits admitted to getting into debt in order to pay for holidays.
Those who had got into debt claimed the MOST they have borrowed for a single holiday is £1,164 (on average) – and 11 months was revealed as the average time it takes Brits to pay off a holiday debt.
But for those who prefer to scrimp and save for their holidays, it takes an average of SEVEN months to save up for an annual holiday abroad.
And almost half (46 percent) of savvy Brits are organised enough to have a “holiday account” which they save towards each month – with £120 emerging as the average amount put aside each month for holidays and breaks.
In terms of what holiday savings are spent on – according to the report, the majority is used for family holidays (76 per cent) – and 33 percent use their savings for trips away with friends. A further 36 percent of passionate Brits use holiday savings for regular romantic trips away with their other half.
Vix Leyton from cashback and rewards site Quidco* who commissioned the study of almost 2,000 Brits, commented:
“Getting half a world away from it all is one of the best breaks you can take, and it’s no surprise that overstressed Brits are dreaming of faraway shores, and invest heavily in them. That said, it’s a concern that so many people are prepared to put themselves into debt to take themselves away.
“With the continuing evolution of online travel booking, it’s never been easier to put together holidays and breaks to your own specification, and tailored to your own personal budgets. Knowing when to book and how to get the best price for your flights, hotels and all those little extras like insurance using things like cashback will make sure you can dip your toes in the deep blue of the sea, while staying in the black.”
The survey also revealed unplanned events (weddings, stag/hen dos and milestone birthdays) put 43 percent of Brits over on their annual travel budget – with the average spend averaging £301 per year.
While a fun loving 47 percent said their friends and family were worth the extra spend – a begrudging 29 percent said that people who expect their friends to celebrate with them abroad were “selfish.”
And a mean spirited 8 percent said they have scrimped on a gift for someone to try and make some of the money back.
AVERAGE SPEND ON EACH UK HOLIDAY / BREAK:
A place to stay (EG cottage, hotel) £284
Car hire £15
Travel (train/planes/buses) £81
Meals and drinks out £153
Food shopping/staples £76
Excursions and days out £84
Things to keep children entertained £27
New outfits for holiday £65
TOTAL PER UK HOLIDAY £805
X 2 (as twice a year) £1,610
AVERAGE SPEND ON EACH FOREIGN HOLIDAY / BREAK:
A place to stay (hotel, apartment, villa) £574
Car hire £62
Travel (flights/trains/buses) £429
Meals and drinks out £250
Food shopping/staples £96
Excursions and days out £128
Things to keep the kids entertained £34
New outfits for holiday £114
TOTAL PER HOLIDAY ABROAD £1,742
TOTAL ON HOLIDAYS PER YEAR £3,352