British holidaymakers are opting for European holidays to cut back on costs, research has suggested.
However Ryanair has forecast a rush of US and Asian tourists, boosting demand in Europe. This means the Brits might not be getting the affordable holiday they’d bargained for.
Quotezone.co.uk have also shared useful tips on how holiday-goers can cut costs and protect their money when booking their holidays.
The impact of the cost-of-living crisis is being felt in every area of life across the UK – and that includes summer break plans.
Eager to travel
New figures from Quotezone show travellers have had a change of heart when it comes to their holiday destinations.
There has been an 18% decline in demand for travel to countries outside of Europe in 2022, and a corresponding 18% spike in those headed for Europe, compared to pre-pandemic levels in 2019.
2022 was initially a year when most people were hoping to get back to some form of normality and start travelling as freely and frequently as before the pandemic.
A recent UK-wide survey by Quotezone suggested that the switch to European holidays is perhaps not due to an unwillingness to travel. The third most popular New Year resolution among people questioned was to ‘travel more’. So it may be the effects of the cost-of-living crisis which is leading people to keep journeys shorter and hopefully more affordable.
Cheaper option? Maybe not…
However, campaign group Which? compared prices of 13,000 package holidays and found that deals to Spain, Turkey and Italy have jumped by 20% or more since last summer.*
This comes at a time when Ryanair has forecast a rush of US and Asian tourists boosting demand in Europe due to the relative strength of the US dollar and the end of most border restrictions. This of course creates further demand for these sought-after summer holidays.
Greg Wilson, CEO of Quotezone, comments, “Initially we would have expected 2022 to be the year when travel around the globe began to return to pre-pandemic levels, with the easing of restrictions and the threat of coronavirus significantly decreasing.
“But this recent research suggests financial factors, rather than attitudes, could be deterring people from travelling too far.
“As the summer months approach and the cost-of-living crisis continues to impact residents in the UK, it is important travellers find competitive travel insurance that fully protects their needs.”
- Take out insurance at the same time as the holiday is purchased. This can help protect against issues in the lead-up to the trip.
- If it’s a package holiday, check it’s ABTA protected. The ABTA logo should appear on the booking reference.
- Also check the trip is ATOL protected or ATOL Flight Plus protected. This means that customers won’t be left stranded abroad if the tour operator or airline goes bust.
- Booking with credit cards can give extra protection. If the trip was cancelled or the operator went bust, the credit card company are normally liable as the retailer, and so should refund the payment.