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Most Britons bust the budget abroad

Document Cited in Related
Vincent
Published date29 June 2022
Publication titleHuddersfield Daily Examiner
Research for the annual Holiday Spending Report from Post Office Travel Money shows that 53% of more than 2,000 Britons polled intend to travel abroad and, for almost two-thirds of them, the high cost of UK-based breaks was an important factor in their decision-making

However, the research also revealed that three-quarters of holidaymakers set a budget for their last trip abroad, but resort spending cost seven-in-10 of them an average of 38% extra.

Holidaymakers need to allow at least £477 and families around £890 if they are to avoid busting their budget again, found the report.

On their last overseas trip the research found that individual holidaymakers set a budget averaging £344.38 but only three-in-10 stuck to it and the rest spent an average of £132.46 more.

Around 76% of families also set a budget but over three-quarters of them lost control of their purse strings and paid out £243.14 on top of the budget they had set of £644.43.

Nick Boden, Head of Post Office Travel Money, which accounts for one-infour UK foreign exchange transactions, said: "Over the past five years, research for the Holiday Spending Report has consistently revealed that most Britons start with good intentions by setting a budget but find that it is inadequate once they get to their resort.

Prices abroad can catch you out "We urge them to think back to their last holiday and set a budget based on past experience. That way they can avoid extra...

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