Brits are “not deterred by the rising cost of living”, with travellers in the UK set to spend the highest amount per trip, claim researchers.
MMGY Travel Intelligence said its latest survey shows that travel “appears to be the last item for people to do without”.
UK travellers are planning 2.5 international trips on average over the next 12 months and expect to spend more than £4,000 ($4,908) in total for international holidays, according to the company’s first Portrait of European Travellers study.
Examining data from more than 4,000 respondents, the survey found that European travellers are “determined to keep travelling”, intending to take an average of 2.3 international holidays in 2023 and spend an average of $3,975 – up 1% from the reported pre-pandemic average annual spend.
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Cost of living ‘to impact almost half of people’s holiday plans’
The respondents were selected equally from France, Germany, Italy, Spain and the UK, and had to have an intention to travel internationally within the next 12 months.
Europe is the most popular choice for travel over the next three years, followed by the US, the Caribbean and Canada.
Cees Bosselaar, MMGY Travel Intelligence Europe managing director, said: “In the wake of the Covid-19 pandemic, our study demonstrates that there is clearly a strong appetite to get out and see the world, and people are hungry to spend their money on this simple pleasure and are not willing to do without it.
“This is not to say people aren’t cost-conscious, with good deals and budget being key influencers on holiday choices.
“Destinations and service providers should continue to be mindful of concerns and challenges that today’s travellers face.”
The poll found that Covid-19 sits at the bottom of the list of factors affecting travel decisions, while the cost of airfare and accommodation in addition to personal safety are at the top.
About 30% of European travellers indicated they have avoided a destination or transportation option because they feel that it was not committed to sustainable practices.
More: Tour operators upbeat despite economic recession
Cost of living ‘to impact almost half of people’s holiday plans’