Holiday confidence is high, but belts are tightening
Holiday confidence is at its highest level for three years, based on a survey of 5,293 consumers.
According to the latest Holiday Confidence Index by First Rate Exchange Services, a higher number of Britons plan to travel abroad in the next 12 months, despite a sharp fall in confidence about the UK economy.
Some 54% of those responding to the 2017 survey, conducted by YouGov in partnership with First Rate and the Institute of Travel and Tourism, say they intend to holiday abroad in the coming year.
This has led to a five-point rise to 66 in the Holiday Intention Index.
The survey also found 44% of holidaymakers have already booked their first holiday and 22% have booked a second one.
Europe remains by far the most popular destination with 73% planning to visit a European country on their first holiday.
Nearly two-thirds (65%) of all trips abroad will be to the Eurozone.
But demand for transatlantic trips has dropped significantly, which First Rate said could be blamed on the ‘Trump Effect’.
Although overall confidence is up, the survey found evidence that holidaymakers are tightening their belts, with drops in both the frequency of trips and the length of stays abroad.
In particular, 30% will take shorter breaks of 1-6 nights, overtaking those who will take seven-night holidays (27%) for the first time.
In addition, there has been no movement in the amount people are paying to book a holiday or the amount of spending money they are taking.
Meanwhile, two-thirds of holidaymakers are concerned about terrorism, a small rise on 2016, but only 21% have changed their destination due to terrorism, a significant 7% fall since last year.
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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.
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