Consumers ready for 2017 holiday prices to rise

Consumers ready for 2017 holiday prices to rise

UK consumers are ready to spend more on overseas holidays in 2017 according to exclusive research for Travel Weekly.

The Kantar TNS study suggests almost half (47%) of UK adults intend to take an overseas holiday in the next 12 months, with a further one in five (18%) undecided. Two out of five (41%) expect to spend more on their holiday – 11 percentage points up on the same time a year ago.

More than half (55%) of adults with children intend to take a holiday abroad – nine points up on a year ago – with an increase of 17 points year on year in the proportion of those with children intending to spend more on their main holiday (47%).

The research among more than 1,200 UK consumers was undertaken in October for the 2016 Travel Weekly Insight Report.

The finding that prospective holidaymakers anticipate spending more next year comes amid concerns about the impact of increased prices, with the average cost of summer 2017 holidays expected to rise by 5%-6% because of the fall in the value of the pound – or by about half the decline in the exchange rate.

The study suggests a shift away from holidays during the summer peak, with just 14% of those planning an overseas holiday in 2017 expecting to travel in July or August – an 11-point fall on the proportion intending to travel in peak summer a year ago, with a 23-point fall among adults with children.

A significant proportion of adults appear undecided on the timing of their main holiday next year – 15% of those planning a trip said they don’t know when they would go, eight points up on a year ago.

There was a six-point rise to 22% in those planning a holiday abroad in May or June.

Durations appear likely to shorten – although the research suggests a sharp divergence by age with a majority of 16-44-year-olds looking at holidays of seven nights or less and most of those aged 45 and over looking at eight nights or more.

The research also identifies a shift in demand away from beach holidays, with a 10-point fall to 36% in those expecting to take a beach break abroad.

Almost one in five (19%) of respondents were undecided about what sort of holiday to take, mirroring the uncertainty about when to go.

The 2016 Travel Weekly Insight Report can be viewed online now.

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