Consumers remain optimistic about the possibility of a holiday abroad this year despite the current economic challenges, a new poll shows.
But they remain cost conscious, with 40% considering self-catering or bed and breakfast options (28%) and 21% planning to go all inclusive.
The study of 2,500 people by travel money firm eurochange found that 96% plan to travel overseas in the next year with the remaining minority intending to at some stage before 2025.
The findings come against a backdrop of the lasting impact of the pandemic, a looming recession and the rising cost of living and support industry but reinforces travel industry indicators of strong levels of bookings during the January-February peaks.
Eurochange managing director Charles Stewart said: “The love of travel is deeply ingrained in the British psyche, and despite the economic challenges we’re all seeing, our survey shows that this hasn’t changed.
“We can clearly see that it’s still a huge priority for the majority of people in the UK to have some downtime abroad, even when they’re being forced to make fiscal decision on a daily basis.”
He added: “It’s certainly encouraging news for the travel and hospitality sector, who have faced challenges we’ve already heard so much about over the last few years, but, the simple fact is, us Brits love a holiday and we’ll scrimp and save as much as we can to make sure it happens.”