More than a third of Britons (37%) have changed their holiday plans this summer because of concerns about rising prices and a worsening economy, Lightspeed Research, a global market research company.
The American trend of a holiday spent at home, known as a staycation, has definitely caught on in the UK. 58% of British survey respondents said they are more likely to have a holiday at home with day trips out locally this summer because of concerns about the economy. This is not unique to the UK – 60% of French respondents and 54% of Germans are also tightening their belts and spending their holiday time at home. For Britons, some of this is due to the worsening Pound to Euro exchange rate 21% will avoid the Eurozone this summer.
And its not just the traditional summer holiday that is under threat: the much loved mini-break has also suffered a hit. 56% of regular mini-breakers are taking fewer short trips than 12 months ago.
43% of Brits prefer making other savings to afford a holiday
According to the results, Brits are the least likely of the three nations surveyed to give up their holiday preferring to make savings in other areas instead. 43% of those we surveyed agreed with the statement “Holidays are very important to me and Id make savings in other areas before giving up my holidays.”