Holidays ‘even more important’ despite cost of living concerns

The majority of people still plan to go on holiday in the next 12 months despite 92% admitting to anxiety about rising economic uncertainty. 

Just 10% do not plan to travel at all due to concerns about household bills.

More than two thirds of those questioned (68%) in a poll of 2,000 consumers for Travel Republic still intend to travel in the foreseeable future, even if they spend a little less when they do so. 

Nearly a third (30%) of its customers said they do not expect rises in the cost of living to impact their holiday plans, with just over that number (36%) saying they will still travel but spend less than they have previously.  

Almost a quarter (23%) will still take holidays but expect to reduce how many.

Being able to pay in monthly instalments was identified as an attractive option by 59% of those surveyed, followed by choosing their holiday based on the lowest price (48%).

Long-haul destinations like the Caribbean (46%), the Maldives (34%) and Seychelles (27%) topped the list for most desirable destinations.

The poll was carried out to gauge sentiment about holidays ahead of a new ‘Anywhere is Possib-haul with Travel Republic’ campaign to promote long-haul travel this winter with discounts for bookings made before September 30.

Managing director Antonio Fellino said: “This research tells us that the appetite for holidays is strong, and that consumers are still prioritising taking a well-deserved holiday somewhere exotic in the foreseeable future, despite the rising cost of living.

“What’s also interesting is that 68% of those surveyed say that taking a holiday is even more important during challenging times, and we get that.

“As a nation our mental health and wellbeing has been truly tested over the last few years by the pandemic and now, with the economic situation.  

“Having a holiday booked, and especially a long-haul trip to somewhere you really want to visit, is what we all need right now, especially with the cold winter months fast approaching and worrying headlines about the increasing strain on family finances.

“We pride ourselves on the value for money of the holidays we sell, and customers can pay in monthly instalments to ensure that getting the dream holidays they deserve is manageable.

“Holiday prices are very likely to be the lowest they will be right now, and there are some great deals to be had to get some Winter sun.  

“In our view prices are likely to rise, so with a small deposit and the option of a payment plan, we would encourage Brits to secure their dream holiday now.”

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