Published on Monday, August 8, 2011
Over half of people don't budget their spending money when they are away on holiday, despite the tough economic climate, according to a new survey.
A study by Thomson Holidays found that people are still splashing out while abroad, with 57% saying they spend whatever they like.Â Over a third did not save for their holiday money.
Over 65% said meals and days out were the main activities they spent their cash on while away, followed by wine and beer.
The research also found that 41% of holidaymakers return with around Â£50 worth of unused currency.
The most expensive souvenir British tourists buy is jewellery, with some of the most popular items being diamond rings and watches.Â Other items topping the list of most expensive items bought were ornaments, furniture and handbags.
Stuffed donkeys, fridge magnets and sombreros rate as the worst souvenirs bought by holidaymakers.
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The recent insolvency of Low Cost Travel Group, one of the large players in the travel industry had a big impact on the travelers, hotels and all related players from both wholesale & retail arms. There were about 27,000 people on a holiday who had booked through the company comprised of a €200 million wholesale arm and €500 million OTA / retail arm.