British ‘don’t scrimp on holiday spending money’

British ‘don’t scrimp on holiday spending money’

The majority of British holidaymakers are defying the recession by spending while abroad.

More than half of those polled (57%) by Thomson Holidays’ Foreign Exchange said they spend whatever they like once they get away and don’t budget.   

Over a third of respondents said they did not save for their holiday money. 

It appears that despite the current economic climate, once people are on the holiday, they forget all their worries – including financial – and treat themselves.  

Meals and days out as the main activities 65% of people spend on, closely followed by wine and beer.

The research also found that over 41% of holidaymakers usually return with around £50 worth of unused foreign currency. 

When asked about the worst souvenir bought while on holiday a stuffed donkey was the number one response followed by fridge magnets, sombreros, stuffed camels and local wines and spirits. Other obscure souvenirs included everything from didgeridoos and bouzoukis to reindeer meat and nodding popes.

Jeremy Osborne, financial service director at Thomson parent Tui UK & Ireland, said: “This research highlights that despite the economic situation, customers are not saving for their holiday spending money or budgeting whilst abroad. 

“Holidays should be carefree and people work incredibly hard for their two weeks in the sun each year, so they should enjoy themselves.” 

But he urged holidaymakers to budget by using pre-paid travel money cards rather than relying on credit cards.

“You can preload your budget before you go, or put on small amounts throughout the year and then use the card just like a debit card once you’re away,” said Osbourne. 


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