Holiday habits uncovered in new research by Leeds Building Society
At least two holidays per year and self-catering trumps all-inclusive
Research into public saving and spending habits by Leeds Building Society has uncovered some facts about UK family holiday habits.
Almost half the 1,000 families surveyed (46.3%) took two or more holidays last year, although one in five (18.3%) didn’t go away at all. The remainder (35.4%) took only one holiday of a week or more in the past year.
Most people (33.2%) planned their trips at least six months in advance but one in 10 was more spontaneous and arranged no more than one month ahead.
Perhaps unsurprisingly, families are spending more on holidays now than they were five years ago and the majority (63.8%) set a holiday budget.
A budget of £500 to £1,000 was the most common spend on the trip itself (21.8% of respondents) although almost half (46.3%) spent more than £1,000. On top of the costs of travel and accommodation, most holidaymakers (39.8%) allocated themselves between £100 and £500 in spending money.
Self-catering was the favoured choice (41.8%) for family holidays, more than twice as popular as all-inclusive (17.3%), which is usually promoted as an economical option for holidaymakers on a budget.
Most families (25.9%) were prepared to fly three to four hours to reach their destination, making Corfu, Morocco or Norway in reach. The next most popular flight time was five to six hours (15.1%) which would get travellers as far as Kuwait or Cape Verde, while 14.4% of respondents were prepared to be on a plane for more than 16 hours, to get to the likes of Fiji, Australia and New Zealand.
“We were interested to see that most people tend to plan quite far ahead for their holidays and budget for their trip and spending,” said Jaedon Green, Leeds Building Society’s Director of Product and Distribution.
“While holidays are supposed to be enjoyable, knowing the cost of the trip is covered by your savings makes it easier to relax as there’s no debt hangover to come home to afterwards.
“Looking forward to your holiday can be almost as much fun as being away and seeing your savings growing as you plan the trip is part of that build-up.
“The biggest downsides for people taking part in our survey were all to do with delays in transit, whether hanging about waiting for delayed flights or to collect luggage, or being held up in traffic on the way to the airport.
“Three quarters of holidaymakers said relaxing was the most important priority although one in six (17.4%) thought sunbathing and afternoon naps were the biggest waste of time while they were away!”
Notes to Editors
*Leeds Building Society surveyed 1,000 people who take family holidays, through OnePoll in April 2016.
The infographic is attached
Leeds Building Society won the awards for Best Building Society Savings Provider and Innovation in Personal Finance (Part and part mortgages) at the 2016 Moneyfacts Awards.
The Society received the ‘Innovation Award (Lenders)’ at the Mortgage Finance Gazette Awards 2016, the third consecutive year it has won this category, as well as the award for ‘Product Innovation (Lenders)’.
The Society also has been named ‘Best Regular Savings Account Provider’ for the second consecutive year by independent consumer advice website Savings Champion.
Leeds Building Society has 65 branches throughout the UK, Gibraltar and Ireland and assets of £13.5bn (at 31st December 2015). The Society has operated from the centre of Leeds since 1886.