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Holidaymakers Resolute About Getting Away Despite Fall In Sterling

10 January 2017

Nearly 34 million people in Britain (66% of adults) are planning overseas holiday escapes during 2017, according to new findings(1) from Sainsbury’s Travel Insurance & Travel Money. The figures are almost identical to last year (67%), revealing a resilience in the overseas holiday market despite a significant fall in the value of sterling against the US dollar, euro and other popular currencies over the past year which increases the cost of holiday spending money for British tourists.

Three in four adults (75%) are planning a holiday in the UK in 2017 – the same figure as last year.

Twelve million ‘early bookers’, nearly one in four (23%) of those intending to book a holiday in the UK or abroad, planned to book their main holiday by the end of 2016. Another one in eight (12%) intends to book during January 2017(1).

Almost twice as many holidaymakers are confident that they will book independently, going direct to their chosen airline and accommodation providers, compared to those who say they will book through a travel agent (23% against 12%), the remainder being unsure as yet.

However, the findings reveal that many holidaymakers will leave their purchase of travel insurance until late in the day. Six per cent of holidaymakers say they will buy their travel insurance within the last week before going on holiday, a further one per cent will leave it until the day of departure, and thirteen per cent will buy it at some stage between booking the trip and the week before they go on holiday. Even more worryingly, almost one in five (18%) say they don’t intend to have travel insurance cover for their trip.

Sainsbury’s Bank is warning that most policies have some cancellation cover which starts on the date you purchase the cover rather than the date of travel, so a significant number of people who choose not to  buy cover when they book their trip will not be covered should they need to cancel their trip in the interim.

Alan Sanderson, Head of Insurance at Sainsbury’s Bank said:  “Whilst lots of holiday makers are early bookers who like to plan ahead so they have something to look forward to, our research shows that many of them don’t pay the same attention when it comes to travel insurance. Also if you’re booking independently rather than through a travel agent, make sure your policy provides good quality independent traveller cover as you may not benefit from protection under the ATOL scheme.”

Those planning on booking a holiday in 2017 say they will spend an average of £816 per person on the cost of the holiday alone, before add-ons and spending money.

Many holidaymakers are cost-conscious about their holiday. Seventeen per cent say they are worried about the costs but will go ahead anyway, and 16% are specifically choosing a UK holiday to keep the costs down. A further 15% intend to stick to a strict budget whilst away and 14% will go on the most budget-friendly holiday they can find.

Overall, city breaks are the most popular form of UK holiday for 2017, planned by 29% of adults, followed by beach holidays (13%), walking holidays (10%) and spa/retreat breaks (7%)(1).

Beach holidays are the most popular choice of overseas trip, planned by 30% of adults, followed by city breaks (19%) and cruises (7%).

Most popular domestic holidays in 2017 (and percentage of adults planning one)(1) Most popular overseas holidays in 2017 (and percentage of adults planning one)(1)
City breaks (29%) Beach holidays (30%)
Beach holidays (13%) City breaks (19%)
Walking holidays (10%) Cruises (7%)
Spa/ retreat holidays (7%) Arts, culture, food and wine holidays (6%)
Arts, culture, food and wine holidays (5%) Walking holiday (4%)
Activity and sports holidays (4%) Ski or snowboard holiday (3%)

 

Sainsbury’s Bank Travel Insurance offers an online discount of up to 25% for Nectar card holders(2). It offers single trip, and annual multi-trip policies with two different levels of cover and extended trip policies. Annual policy holders can also get double Nectar points(3).

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Notes to Editors

For further information, please contact:

Natasha Virtue or Jennifer Johnston-Watt, Sainsbury’s Bank on 0131 286 0010 / bank_communications@sainsburys.co.uk / Citigate Dewe Rogerson 020 7368 9571

This press release is information for journalists only and is not intended to be a promotion to be acted upon by consumers.

(1)Sainsbury’s Bank commissioned Opinium Research to survey 2,000 nationally representative UK adults aged 18+ between 8th to 11th November 2016. Opinium Research is a member of the British Polling Council and abides by its rules.

(2) Customers will receive a 20% online discount as standard. To achieve the maximum discount of 25% when applying online, please quote T1738 and your Nectar card number. Discount does not apply to any part of the premium you pay to cover any pre-existing medical conditions.  Sainsbury’s Bank reserves the right to alter, cancel or withdraw the promotion without prior notice. Offer cannot be used in conjunction with any other promotion or coupon.

(3) 1. Only available to customers who take out a new Sainsbury’s Annual Travel Insurance policy. 2. You must continue to pay policy premiums for two years to continue collecting double points. 3. If the policy is cancelled, double points stop from the cancellation date. 4. Only the first [insert product type] insurance policy registered against each Nectar account will qualify for double points.5. You collect base points when you shop as normal. Then, by the 10th of each month, we’ll give you a bonus equal to the total of the base points you collected the previous month while you held the policy, up to a maximum of 1,250 points. We’ll do this for up to 24 months from the start date of your policy. We won’t double any bonus points, any points from other offers, or points from Sainsbury’s Energy, Telecoms, Bank and all other Sainsbury’s services. 6. The monthly bonus will only be calculated on, and credited to the Nectar card nominated at the time of application. The nominated card must also be used at the time of each Sainsbury’s purchase and points will not be allocated retrospectively. 7. Nectar points are awarded to you by Sainsbury’s Supermarkets Ltd. The Nectar loyalty programme is run by Aimia Coalition Loyalty UK Ltd. The Nectar Collector Rules detail how to collect and use points. You can find these in the Nectar registration pack and at nectar.com 8. Sainsbury’s Bank reserves the right to alter, cancel or withdraw the offer without prior notice 9. No cash alternative available.    

 

Sainsbury’s Bank Travel Insurance
Sainsbury’s Bank Travel Insurance is administered by Cigna Insurance Services (Europe) Limited. Authorised and regulated by the Financial Conduct Authority. It is underwritten by Cigna Europe Insurance Company S.A.-N.V. Supervised in Belgium by the National Bank of Belgium and the Financial Services and Markets Authority, and subject to limited regulation by the Financial Conduct Authority.

 

Sainsbury’s Bank Travel Money

Sainsbury’s Bank Travel Money offers Nectar cardholders an even better rate at its instore bureaux and online, with  0% commission on foreign currency, competitive exchange rates and the opportunity to collect Nectar Points. There are over 50 currencies available to order, with next day collection available for Euros and US Dollars. Open seven days a week and with convenient parking, customers can also purchase a Sainsbury’s Bank Multi-currency Cash PassportTM MasterCard® and collect travel money whilst  shopping from over 200 Travel Money bureaux.

Customers can order currency online or by telephone on 0845 301 2724 and collect from one of 200 travel money bureaux within Sainsbury’s stores, or receive free home delivery for orders of £500 or more.

 

Sainsbury’s Bank:

To view our latest press releases and product information, please visit the Sainsbury’s Bank online media centre at www.sainsburysbank.co.uk/media

Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury’s Bank provides a range of quality products including insurances, credit cards, savings and loans. Our proposition is to make shopping more rewarding by offering customers great products at fair prices, while consistently rewarding shoppers for their loyalty and being easy to do business with at all times. Our products consistently top best buy tables and regularly win awards for quality, price and service.

Sainsbury’s Bank plc. Registered Office, 33 Holborn, London EC1N 2HT (registered in England and Wales, no 3279730) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (register no. 184514). Sainsbury’s Bank plc is covered by the Financial Services Compensation Scheme (FSCS).