According to research by the Post Office, 77 percent of holidaymakers believe that they will take just as much holiday this year as they did last year. Furthermore, it was found that eight in ten holidaymakers will tailor their travel plans to fit in with their budgets.
It has been revealed that a new trend, based on the travel agent technique of ‘switch-shopping’, is one of the main ways by which travellers will save money. This approach reportedly means selecting an alternative destination to the one that was intended in order to guarantee the desired number of days away. The research showed that 47 percent of holidaymakers are set to take at least one 10 to 20 day holiday, whilst 13 percent are set to take a holiday of three weeks or more.
Findings have shown that holidaymakers are also substituting style for budget in a bid to reduce costs, with 22 percent intending to utilise budget airlines and 11 percent staying in less expensive hotels. An additional 19 percent are prepared to venture away at a less popular time of the year, and 19 percent will holiday in the UK despite a preference for an overseas break.
Head of Post Office Travel Services, Sarah Munro, commented: “Despite financial pressures it seems holidays are not something that people are willing to give up. Instead they are choosing to switch their first choice destination to one which allows them to cut costs and to allow for that two week break. Holidaymakers should of course research deals carefully and consider all factors before they book. The Post Office Holiday Cost Barometer has shown that places such as Thailand and Florida, in the US have favourable exchange rates and a lower cost of living, making them a more affordable option this summer.”
“Although people are prepared to fly with budget airlines and stay in less expensive hotels, we’re urging people not to cut corners on their travel essentials. Always make sure you exchange enough travel money before you go in order to get the best rates and don’t scrimp on travel insurance. Cheaper policies are full of exclusions and your holiday could end up costing you a great deal more than you bargained for should the worst happen and you become ill or your holiday gets cancelled.”
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Homeowners who have built up balances on credit cards when funding holidays, could consider consolidating these with a secured loan for
consolidation. Consolidating will put all existing credit in one place, and borrowers will no longer need to juggle multiple repayments each month. A consolidation loan is one of many options for refinancing. It should be remembered when opting for consolidation may increase the amount paid back overall and extend the repayment period of debts.
