Three out of four consumers planning holidays between now and next September intend to take the same or a greater number of trips than in the previous 12 months.
YouGov research for First Rate Exchange Services suggests 60% will take as many holidays and 17% more holidays than in the past year, with in excess of one in two (56%) planning more than one trip abroad.
The results produced a three-point rise in the First Rate Holiday Frequency Index compared with its launch in March, taking the measure to 52 points. The index is one of six used to produce an overall Holiday Confidence Index, also launched in March.
First Rate attributed the improvement to a falling number of people planning fewer holidays. It noted “almost one-third of those planning more trips overseas are aged 55 or over”. The research found those in the 25-34 age group were the most likely to reduce their holidays abroad.
There was no movement in the proportion planning longer holidays (14%) but there was a fall in numbers intending to reduce their holiday duration – from 14% in March to 11% in September.
First Rate noted: “Fewer than half the respondents (44%) intend to take only one holiday abroad in the next 12 months. More than one in five (22%) plan to take three or more, significantly more than in March (17%). This may represent a seasonal change and/or increasing confidence in the economy.”
Alistair Rennie, First Rate head of business decisions, said: “The proportion saying they will take fewer holidays or spend less on holiday or go away for less time has fallen.”
First Rate also noted: “Younger consumers are significantly more likely to take shorter holidays of one to three or four to six nights.”
Holiday spending: Britons expect to increase outlay
First Rate/YouGov respondents were asked whether they are likely to spend more or less on their next overseas holiday than on the last.
Spending was broken down into the cost of booking, amount of spending money taken on holiday, and spending in destination to produce three separate indexes. All three rose in September compared with March.
First Rate’s Cost of Booking index was up three points to 55 and its Travel Money and Destination Spend indexes each up four points to 54.
More than half of prospective holidaymakers expected to spend the same amount in each area as in the past year, but a greater proportion expected to spend more on the booking (23%) than in resort.
However, the results suggest an improving UK economy has yet to translate into greater interest in overseas holidays among those who have not travelled in the past year.
They also suggest 40% of those who intend to travel abroad had booked a holiday at the time of the September survey. This would include late summer 2013 holidays as well as winter 2013-14 and summer 2014 breaks, but it seems high – suggesting 22% of all respondents have booked a holiday.
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