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Almost three quarters (73%) of travel agents believe that people will spend more on their summer holidays this year than in 2014.
The findings come from a pre-holiday season survey of UK agents conducted by the supermarket bank, Sainsbury’s Bank Travel Money.
Further research into people’s holiday plans indicates that holidaymakers also plan to spend more time with their family and friends, as well as taking more money abroad.
Of those people who went abroad for their summer holiday last year and plan to do the same this year, 43% intend to spend on average £848 more on the entire cost of their holiday in 2015.
This compares to 13.7% who expect to have a smaller summer holiday budget – around £674 less.
The study reveals that 21% of those planning to go on holiday this summer will take an all-inclusive package.
This is followed by 16% who intend to use discounts and promotions, 11% will be using loyalty cards and reward points to cut the cost of their main summer holiday and 9% will be using vouchers and coupons.
In total, four out of ten holidaymakers will use one or more of these to save money.
A third (33%) say they will take more spending money abroad this summer, compared to just 12% who will take less.
On average, those taking more will take an extra £157 with them, 15% will have £100 or more extra and 8% will have £200 or more extra.
One of the main reasons why people will be spending more on their summer holidays this year is because one in three (32%) say they will have on average six days extra abroad than they did in 2014. Just 11% say on average they’ll have five fewer days than last year.
The findings also suggest this summer could see people spending more time with their family and loved ones than last year – both at home and abroad. Just over one in four (26%) think this, compared to only 7% who anticipate they will be spending less time together.
The bank’s head of travel money, Simon Taylor, said: “Consumer confidence appears to be increasing, this coupled with the fact that sterling is worth more against the euro than last summer, could explain why many people could be planning to spend more time and money on their summer holiday this year.”
“No matter how much more or less you plan to spend on your holiday, having a good quality travel insurance policy will give you peace of mind you’re covered in the event of an emergency.
“It’s best to compare policies on a like-for-like basis and not on price alone, as doing so, you may not get the level of cover to suit your needs.”
Corinne Sweet, psychologist, author and psychotherapist, said: “The pressure of modern 24/7 life, plus the scattering of families spread throughout the UK and beyond, often for work, means that spending time together in the summer is increasingly attractive.
“This brings many advantages – parents get extra support from grandparents or other relatives; young people get to learn from a wider range of adults; and relationships can deepen across the generations.”
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