Although the volatile value of sterling following Brexit has been a major concern for all over the UK, British travellers still keep holiday making as one of their major expenditure.
According to a survey, 35% said that their main holiday would be a spending priority over the next year, after grocery shopping which 45% of respondents saw as more important.
PwC’s hospitality and leisure lead, David Trunkfield said that holiday spending could be cut if consumers feel “squeezed” over the next 12 months at ABTA Travel Convention in Abu Dhabi. Some 22% of consumers highlighted their main holiday as a possible spending cut, with eating out (39%), going out (34%) and clothes, shoes and accessories (28%) remaining as the top three likely savings, should consumer finances tighten.
The current leisure trends reveal that there is a positive trend in both the number of outbound leisure passengers. In 2015, the spending went upto 42.15m on outbound holiday trips by UK residents with a total of £26.27bn being spent.
David Trunkfield continued in his explanation that holiday makers are concerned if their travel plans would be affected after Brexit in 2017.
It has been seen that 67% of consumers expect Brexit to make going overseas more expensive and 54% expect to have less money to spend on leisure activities such as holidays. This in a way could be positive news for UK tourism as the weaker pound should lead to higher inbound leisure tourism, while 45% of our survey respondents said they expect to take more holidays in the UK.
