A majority of UK households with children expect to be worse off following this week’s Budget and two-thirds will spend less on holidays or not go away at all, according to research for Travel Weekly.
The survey found 77% of respondents with dependent children were worse off this year than last, and 68% expected the Budget to leave them with less money.
More than one in three parents (35%) expected to spend less on holidays this year, 18% the same and 15% more. A further 30% did not expect to take an overseas break.
A majority of those aged 35-54 – the biggest spenders on foreign travel – said they had less to spend than last year (71%) and 65% expected to be worse off after the Budget. More than one in three (34%) anticipated spending less on overseas holidays.
The survey of 500 adults, conducted last weekend by Explore Reseach, found 60% had less to spend and 53% expected to be worse off after the Budget. Families with children are among the most likely to take a foreign holiday, but also more likely to cut holiday spending.
Those aged 18-34 were more optimistic: 26% said they were better off this year, compared with 9% of 35 to 54-year-olds, and 28% expected to spend more on travel. The young were the only group in which a higher proportion expected to spend more on holidays than spend less, and the rate not expecting to go abroad this year (16%) was less than half the rate in other age groups.
Katie Bryan-Brown, head of Explore Research, said: “The general feeling is consumers have less money and expect to spend less on holidays. The under-35s seem more buoyant. The majority of over-35s think they will be worse off and families expect to be worst hit.”
This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly.
By posting your comments you agree to accept our Terms & Conditions.