Research(1) from Sainsbury’s Bank Travel Money reveals that 73% of travel agents believe that people will spend more on their summer holidays this year than in 2014(1). The findings come from a pre-holiday season survey of UK travel agents(1) conducted by the supermarket bank.
Further research(2) polling people’s holiday plans indicates that holidaymakers also plan to spend more time with their family and loved ones, as well as take more money abroad.
Corinne Sweet, Psychologist, Author and Psychotherapist explains: “The pressure of modern 24/7 life, plus the scattering of families spread throughout the UK and beyond, often for work, means that spending time together in the summer is increasingly attractive. This brings many advantages – parents get extra support from grandparents or other relatives; young people get to learn from a wider range of adults; and relationships can deepen across the generations.”
Simon Taylor, Head of Travel Money, Sainsbury’s Bank said: “Consumer confidence appears to be increasing, this coupled with the fact that Sterling is worth more against the Euro than last summer, could explain why many people could be planning to spend more time and money on their summer holiday this year.”
Summer 2015 Stats:
Bigger holiday budget
Of those people who went abroad for their summer holiday last year and plan to do the same this year, a staggering 43%(2) intend to spend on average £848 more on the entire cost of their holiday, this year. This compares to 13.7% who expect to have a smaller summer vacation budget – around £674 less.(2)
The research(2) reveals that 21% of those planning to go on holiday this summer will make use of an all-inclusive package. This is followed by 16% who intend to use discounts and promotions, 11% will be using loyalty cards and reward points to cut the cost of their main summer holiday and 9% will be using vouchers and coupons. In total, four out of ten holidaymakers will use one or more of these to save money.
More to spend on holiday
33%(3) say they’ll take more spending money abroad this summer, compared to just 12% who will take less. On average, those taking more will take an extra £157 with them, 15% will have £100 or more extra and 8% will have £200 or more extra.(3)
More time abroad
One of the main reasons why people will be spending more on their summer vacations this year is because one in three (32%) say they’ll have on average six days extra abroad than they did in 2014. Just 11% say on average they’ll have five fewer days than last year.
The Bank’s findings also suggest this summer could see people spending more time with their family and loved ones than last year – both at home and abroad. Just over one in four (26%) think this, compared to only 7% who anticipate they will be spending less time together.
Simon adds: “No matter how much more or less you plan to spend on your holiday, having a good quality travel insurance policy will give you peace of mind you’re covered in the event of an emergency. It’s best to compare policies on a like-for-like basis and not on price alone, as doing so, you may not get the level of cover to suit your needs.”
Sainsbury’s Bank offers a range of products and services for people going on holiday. In addition to its single trip and multi trip travel insurance, it also has around 180 travel money bureaux in Sainsbury’s stores across the UK and offers 0% commission on foreign currency. There are over 50 currencies available to order. Customers can also order online or by telephone on 0845 301 2724 and collect from a travel money bureau(3), or receive free delivery for orders of £500 or more.
Customers can also take out a Sainsbury’s Bank Multi-currency Cash PassportTM instore at one of the Bank’s bureaux. The Chip and Pin card allows customers to load up to seven currencies on to it, pay for goods and services at merchants around the world that accept MasterCard cards and withdraw local currency from ATMs displaying the MasterCard logo. Customers can also manage their money online and move funds between the seven currencies.
Notes to editors:
(1) Sainsbury’s Bank research with 100 travel agents – June 2015
(2) Research commissioned by Sainsbury’s Bank and conducted by Opinium. Opinium interviewed a random sample of 2,004 GB adults aged 18+ online between 29th May and 2nd June 2015. Surveys were conducted across the country and the results have been weighted to the profile of all adults. Opinium a member of the British Polling Council and abides by its rules.
(3) Research commissioned by Sainsbury’s Bank and conducted by Opinium Research. Opinium interviewed a sample of 2,004 GB adults aged 18+ online between 24th and 28th April 2015. Surveys were conducted across the country and the results have been weighted to the profile of all adults. Opinium is a member of the British Polling Council and abides by its rules.
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