Brits plan to travel abroad more, but spend less
More Brits plan to travel abroad next year next year, but they intend to curb their spending.
The 11th Holiday Confidence Index report from First Rate Exchange Services shows there have been year-on-year falls across the three indices that measure different types of planned holiday expenditure.
Most worrying, said the report, is a two-point fall in the Cost of Booking Index, which reports on the cost of booking travel and accommodation.
This year’s lower Cost of Booking Index score of 39 indicates a ‘real resistance’ to paying more for a holiday package or individual components, it said.
This is reflected in a significant 3% decline in the numbers who intend to pay more when booking their holiday and a 1% rise in those who want to pay less than previously.
The report said heavy discounting after a sluggish booking period before and during the 2018 World Cup may partly account for this, but warned that the expectation of discounting in the year ahead may prove unfounded.
It said instead holidaymakers might have to sacrifice standards of accommodation to curb costs.
The index, based on a survey of 5,114 consumers, found the number of people who intend to take an overseas holiday has risen to 55% – up 1 percentage point on last year – with a corresponding fall to 27% in those who do not plan to travel abroad.
As a result, the Holiday Intention Index – the most important of six indices that contribute to the overall score – has risen one point to 67, the second highest recorded in the last five years.
In more positive news for the travel industry, a higher proportion of those planning trips – 46% compared with 44% a year ago – have already booked their first holiday.
Liam Hodge, First Rate Exchange Services head of insight, said: "The latest Holiday Confidence Index results provide good reason for the travel industry to feel optimistic that consumer demand will remain buoyant in challenging times ahead. The number of people who have already booked trips abroad is a reassuring confirmation that this type of holiday is a part of their lifestyle they are not willing to forgo."
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Strike action set to cause travel chaos at Brussels airports
Phocuswright reveals the world's largest travel markets in volume in 2025