Britain is a nation of travellers. Travel search site momondo.co.uk found a resounding 21% of a 1,000 Britons surveyed prefer to spend their spare cash on holidays. This was when given a choice between a selection of ways to splurge, including on home improvements (of which 10% opted), clothes (14%), health and well-being (6%), dining out (14%), cars (3%) and cultural events (7%).
And when it comes to splashing out, say on luxury or long haul trips, 10% of Britons plan to spend between £4,000 and £8,000, and 2% plan to spend more than £8,000 on their 2015 summer holiday.
Interestingly, 28% of Britons plan to spend between £1.601 and £4.000 on their annual summer holiday, 21% between £801 and £1.600, 19% between £401-£800 and a further 10% plan to spend under £400. Just 1% plan to spend under £80 and 9% weren’t sure how much they plan to spend.
Compared to 16 other nations surveyed by momondo, these figures place Britons as the third highest spenders, with only China and Norway overtaking.
”Our survey shows traveling is of the upmost importance to Britons, who prefer to save on other things, such as home renovations or dining out, in order to get away. A holiday relaxes you in a different way when you take it abroad, far away from daily routines,” says momondo spokesperson, Lasse Skole Hansen.
When budgeting for a holiday however, momondo found 30% of Brits prefer to save money on their flight, leaving more to splash out on accommodation, dining and cultural experiences.
Travellers can explore the six factors that affect flight fares with momondo's unique free money saving tool Flight Insight, available on more than 10,000 routes worldwide. The tool can be found at the top of the results page on momondo.co.uk when making a flight search.
momondo’s travel tips for booking worldwide flights
- Book your trip 53 days in advance to get the cheapest tickets - and you can achieve average savings of 29 percent
- Tickets are generally most expensive three days before departure
- Evening departures between the hours of 6pm and midnight typically offer the cheapest fares
- It is usually more expensive to fly in the afternoon
- A Tuesday is generally the cheapest day to fly
- Friday is routinely the most expensive day of the week to fly
N.B. These statistics were obtained from 7.5 billion fares on momondo's top 100 routes.
Chinese have the biggest holiday budget – and they often exceed it
momondo’s survey also found the Chinese enthusiasm for travel, is also reflected in the magnitude of their holiday budgets. The Chinese spend the most money while away, out of all nationalities surveyed: nearly a third (30%) of the Chinese budgets 2,001 – 5,000 euros for their summer holiday in 2015 and as many as 23% plan to use more than 5,000 euros.
In addition, the Chinese are also more relaxed when it comes to staying in budget, since momondo found almost a half (49%) usually spend more money than planned when on vacation. Two out of five (38%) in turn manage to stick within the limits of their budget, and only seven percent are able to stay under budget.
The second biggest holiday spenders are the Norwegians, out of whom one in three (30%) budgets 2,001 – 5,000 euros for their summer holiday in 2015. One in ten of the Norwegians (12%), in turn, plans to spend more than 5,000 euros this summer for vacationing.
