Brexit vote fails to dampen holiday spending plans despite rising costs

Brexit vote fails to dampen holiday spending plans despite rising costs

The average British family will spend two and half months’ wages on their summer holiday this year, new research claims.

A family of four will spend an average of £1,284.54 per person – the equivalent of two and a half months’ pay, based on the average wage of £28,000 in the UK. This is up from £1,074.60 per person in 2016.

Despite Brexit’s impact on sterling, 41% say they will still travel to Europe this summer, up from 38% last year, according to a new study by shopping and fundraising website Give as you Live.

More than three quarters of people (78%) taking a summer break this year say the vote to leave the EU has not influenced their travel plans, despite rising holiday costs.

Ten per cent of those taking a summer holiday said the Brexit vote made them “want to visit Europe while we’re still part of it”, while one in 20 said “it made me want to stay in the UK for my summer holiday”. A similar 5% do not want to go to Europe “because it’s too expensive now”.

Almost a third (30%) will choose to stay in the UK this summer, while almost one in five (18%) will not be taking a summer holiday and one in 10 (11%) will travel elsewhere.

Men (44%) are slightly more likely to go to Europe than women (39%), and more women (21%) than men (15%) said they won’t take a summer holiday.

Among cities in the UK, Glasgow (51%) has the highest number of respondents saying they will be going to Europe this summer, followed by Newcastle and London (each 46%).

Those in Edinburgh (40%) are most likely to holiday in the UK, followed by Sheffield (36%) and Nottingham (33%).

The results come from a poll of more than 2,000 consumers across the UK, who were asked about Brexit and their summer holiday plans.

Give as you Live managing director, Greg Hallett, said: “The pound has been shifting up and down since Brexit, bringing the cost of European travel into question, but it’s interesting that many Brits aren’t phased and will still go to Europe this summer.

“That said, the average spend for that holiday is almost £1,300 per person. Brits clearly aren’t worried to spend a bit for holiday fun.”

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