Fewer people to travel abroad this year than last
More than a quarter of Britons will forgo a foreign holiday this year, which is slightly more than last year, according to a recent survey.
Of more than 5,000 questioned online, 26% said they’d decided not to travel this year, an increase of two percentage points over last year.
The survey, by carried out by First Rate Exchange Services in association with the Institute of Travel & Tourism, University of Wolverhampton and YouGov, confirms a poll by TravelMole which showed that just over 54% of agents believe next week’s General Election is having a dampening effect on sales.
However, almost half of the 56% of consumers who have decided to travel this year have already booked their first trip and 28% have booked a second holiday, according to the survey.
Three-quarters of those who will take a holiday intend to spend the same or more than they did on their previous trip, while over four-in-five will take holidays of the same length or longer than before.
The latest report also reveals that independent holiday bookings are level pegging with packages. Two-in-five holidaymakers now take the independent route compared, up three percentage points since last autumn. Meanwhile, demand for package holidays has fallen from 42% to 40%.
In spite of the rising strength of the pound against the euro, fewer people are planning to travel to the eurozone this year, although it will still account for almost two-thirds of first holidays booked.
"This suggests that consumers may be rather slower to switch on to exchange rate movements than might have been expected, especially as there has been a correspondently rise in popularity for trips to North America at precisely the time when sterling has also fallen in value against the US dollar," said the report’s author.
Alistair Rennie, First Rate Exchange Services head of strategy and innovation, said: "The latest Holiday Confidence Index suggests that the mood of caution we first picked up last autumn has now crystallised into a firm resolve by some people not to travel abroad this year and growing uncertainty among others ahead of the General Election.
"Despite this more negative trend, it is encouraging that well over half of the consumers we spoke to are intending to travel abroad and almost half of this group have already booked holidays.
"With a week to go before the election, we would hope that people will feel more confidence to plan trips abroad once the results are in and will decide to take advantage of the increased buying power of the pound in so many destinations."
The Spring 2015 report can be obtained by emailing [email protected]
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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