Affording a two-week Holiday is most certainly a luxury, especially in this economic climate, so people are opting for a more affordable choice of splitting their time between the UK and somewhere abroad.
According to a new study, Brits are battling to balance their budgets with the cost of a break.
Of the holidaymakers planning the traditional two-week holiday abroad this year, a quarter revealed they plan to spend a maximum of just seven days outside of the UK, explains Travelex who conducted the survey. THe other week would be spen holidaying in the UK or making day trip excursions from home.
Travelex predicts that over three million British holidaymakers will be opting for this new home and away trend this year, with 25 per cent of those questioned revealing it would be the first time they wouldn’t be taking the full two weeks abroad.
Anthony Wagerman, MD of Travelex, comments: “Holidaying abroad for a good dose of sunshine is an important part of the British psyche and despite all cuts and economic concerns, we’re not ready to give it up just yet. Instead we’re seeing the rise of the ‘home and away holidaymaker’ – with time spent on holidaying abroad and then back in the UK. It’s the typically savvy response we’ve seen from Brits since the very onset of the credit crunch.”
A refusal to not give up entirely on a foreign holiday, while at the same time not ‘breaking the bank’, were revealed as the most common reasons behind the trend.
Activities taking place at home this summer were also revealed as influencing the decision to spend more time in the UK, with both the Olympics and the Queen’s Jubilee cited as good reasons to be at home.
In a bid to further keep the cost of a holiday down, feedback from the study also revealed that Brits are keeping a close eye on exchange rates and economic woes across the Eurozone before choosing their holiday destination.
Spain, Portugal and Greece were all cited by Brits as popular short-haul destinations. Currently in recession, all three countries are among the lowest in terms of cost of living, which, coupled with a rise in the value of the Pound against the Euro, means Brits jetting off to Spain will find that prices are 40% cheaper than they were five years ago.