Nearly twice as many British people would sooner cut back on eating out if they needed to save money, than they would cut back on their holidays (25% vs 13%).
This is according to new research1 by ABTA – The Travel Association, which looks at some of the popular activities and items people would be most willing to spend less on in order to save money and finds that taking a well-deserved holiday would remain one of the nation’s top spending priorities.
People would sooner reduce the amount they spend on clothing and accessories (18%) and electronic gadgets (17%) over their holidays. Leisure activities such as going to the cinema and concerts were activities people were least likely to cut back on (11%).
Meanwhile, people were asked to list some of the other common items they would consider cutting back on to save money, with alcohol, cigarettes and takeaway meals all being leading choices.
With 86% of the population saying they took a holiday either at home or abroad last year2, people are still firmly committed to their holidays and many regard them as a necessity rather than a luxury.
Of the age groups surveyed, 18-24 year olds are the most tied to their holidays with only 6% saying they would cut back on trips to save money. This is despite often being regarded as one of the age groups with the least disposable income3.
Furthermore, nearly a third (31%) of the young age group said they would curb how often they eat out, five times more likely than cutting back on a holiday, and is another indication of how highly they value travelling above other leisure activities.
Similarly, nearly a third (31%) of people with children in their household said they are most likely to moderate their spending on eating out, compared to just 13% who would cut back on the amount they spend travelling the world.
Victoria Bacon, ABTA’s Director of Brand and Business Development, said:
“We have always been a nation of people who enjoy taking holidays and it is clearly a spending priority for a lot of people, often overtaking other popular items and leisure activities.
“For those looking to go on holiday this year, but are a bit conscious of cost, then it’s really worth having a look at the deals and offers available at the moment. Many travel companies still have holidays left with free-child places or money off for summer breaks, and 60% of UK travellers say they booked a package holiday last year because it was the best value option for the price.”
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Notes to editors
About the research:
1Research was conducted by YouGov Plc. The ABTA 2019 Holidays survey generated responses from a nationally representative sample of 2,058 consumers using an online research methodology and related to holiday booking habits for 2019. Fieldwork was conducted between 18th and 19th December 2018 and the survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).
2ABTA’s Holiday Habits Report 2018.
3 BBC Report (analysis by Institute of Fiscal Studies) September 2018 – 5% decline in earnings from 2008 for those in their 20s
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