Eight in 10 Brits say the cost of living has impacted their holiday and travel planning

Eight in 10 Brits say the cost of living has impacted their holiday planning

• 70% of Brits are making changes to day-to-day spending to afford a holiday as prices rise

• Almost half (48%) are more likely to take out travel insurance following recent disruption, up from 37% in April

• Nearly two-thirds (63%) could be caught out by Passport Office delays as they don't check their passports far enough in advance

Nearly eight in 10 Brits (79%) say that the rising cost of living has impacted their holiday planning, according to new research conducted by comparethemarket.com. Almost a third (28%) are booking fewer holidays, more than a quarter (27%) are booking cheaper accommodation, and a quarter (26%) are booking cheaper destinations to cope with rising prices.

70% of Brits are also making changes to their day-to-day spending to afford a holiday. Almost a third (29%) are shopping around to find low prices, more than a quarter (28%) are spending less money on clothes, and a further 27% are eating out less to save money for a get-away. Given these sacrifices, it is unsurprising that price is the main factor Brits consider when booking a holiday. One in two (53%) book a holiday based on price, followed by quality of accommodation (36%) and weather (34%).

The average cost of a holiday is £1,074 per person including transport and accommodation, according to comparethemarket.com. With big sums of money at risk, almost three-quarters (72%) of Brits will take out travel insurance for their next holiday. However, 28% do not plan to take out travel insurance, leaving them at risk of extra costs if something goes wrong before or during their trip.

Thousands of holidaymakers have experienced cancellations and delays since the government lifted the remaining COVID-19 travel restrictions on Friday 18 March 2022. The disruption appears to be encouraging Brits to take out travel insurance. Almost half (48%) are more likely to take out travel insurance following disruption during half-term and the Platinum Jubilee, up from 37% in April when comparethemarket.com last polled holidaymakers.

HM Passport Office has also experienced delays processing new passports in recent months. Some holidaymakers have even been forced to postpone trips because their new passports arrived too late to travel. HM Passport Office recommends that people apply for a passport more than 10 weeks before departure. However, just 15% of Brits check their passport expiry date far enough in advance. Almost two-thirds (63%) of Brits check their passport within 10 weeks of departure, leaving them potentially out of time if their passport needs to be renewed. Some wait until the very last minute. 14% of Brits only check their passport within the week before departure.

Almost half (47%) of Brits say that beach holidays are their favourite type of holiday, followed by city breaks (16%) and rural escapes (15%). When it comes to travelling abroad, 38% say they choose foreign holidays as they prefer the weather, with a further 31% saying that after two years of pandemic disruption they want to travel overseas.

Alex Hasty, director at comparethemarket.com, said:

“Many of us have been making sacrifices to ensure we can afford a holiday this year. Holidays are a big expense, with our research showing that the average trip costs £1,074 per person. Travel insurance is a good way to protect the money you’ve already spent on your holiday and ensure you don’t have extra bills if something goes wrong before or during your holiday. Cover can start from as little as £5.90* for a single trip policy.’’

“Lots of holidaymakers have experienced disruption in recent weeks, as the travel industry reopens post-pandemic. With disruption set to continue over the summer, it’s a good idea to book insurance as soon as you book a holiday, so you're covered immediately for unforeseen events that could force you to cancel bookings before departure. Many people risk failing to take out insurance far enough in advance, leaving them unprotected from disruption such as advance flight cancellations." 

Alex added: ‘’For those that are looking to cut back on eating out to help save for a holiday, it’s worth noting that if you take out a qualifying product via comparethemarket.com, such as travel insurance, you get 12 months access to rewards**. This includes 2 for 1 food at selected restaurants, 25% off coffee and pastries at Caffè Nero and 2 for 1 cinema tickets on Tuesday or Wednesdays at participating cinemas.’’

For further information about what travel insurance could cover you for, please visit: https://www.comparethemarket.com/travel-insurance/content/what-does-travel-insurance-cover/