Budget holidaying ‘to avoid debt concerns’

Britons are opting for budget holidays in an attempt to stave off worries regarding debt, new figures have suggested.

According to research carried out by R3, more than a third of people in the UK (38 per cent) are to spend less on their vacations this year than they did in 2009.

It showed a quarter of residents have decided to forego a getaway altogether – perhaps indicating debt concerns are rife.

The study looked at how the ‘age of austerity’ and the current economic climate is impacting holiday plans.

It discovered 71 per cent of holidaymakers who have chosen cheaper trips are selecting less expensive accommodation.

Moreover, 68 per cent have sourced budget travel options.

Just under two-thirds (63 per cent) of respondents said they are jetting off to foreign shores on a less regular basis, while 50 per cent are cutting down the length of their excursions.

Off-peak travel is also becoming more popular, with 63 per cent opting for this form of transport.

The same proportion is also going for early-bird deals.

From a geographic view, people from Yorkshire and Humberside have reduced their outlay on overseas breaks the most this year (43 per cent), closely followed by individuals in London and the North West (42 per cent).

Steven Law, president at R3, commented: “It’s good to see Brits cutting their cloth accordingly and refusing to spend what they can’t afford.”

Santander Cards recently warned holidaymakers to be wary of unnecessary foreign exchange fees when visiting destinations abroad and forecast Brits will fork out more than £49 million in such costs this summer.

By Joe Shervin