While Brits face tighter budgets as inflation rises, appetite for travel remains strong according to the Travel Tracker Report from Travel Counsellors – one of the UK's largest and fastest-growing travel companies.
According to the survey of 2,000 Brits, almost half (45%) said holidays were their number one spending priority over the next 12 months, ahead of home and garden renovations (30%), eating and drinking out (28%) and clothes, shoes and accessories (27%).
The report highlighted that no corners are cut for the perfect holiday experience, as more than three quarters (76%) of those surveyed are planning to spend at least as much on travel next year as they did in the last past year. Not only that, as much as 81% are likely to exceed their planned budget when on holiday.
Looking ahead to the next six months, three quarters (75%) of Brits surveyed are planning an overseas trip. Over a quarter (28%) are opting for a city break, while over one fifth (21%) are searching for some winter sun with a beach getaway.
58% of Brits have been on holiday in the past year, with nearly half (47%) opting for a beach break. Spain was the number one overseas destination in 2023, followed by France and Greece. The USA and Italy completed the top five. Looking to next year, the research suggests Brits are feeling more adventurous and planning to travel further afield, with the USA topping the 2024 destination hotlist, followed by Australia.
The holiday ‘feel-good' factor
According to the Travel Tracker Report, over a third of Brits (38%) value holidays more since the pandemic and nearly one in five (23%) are more motivated to get out and explore the world.
Over a quarter (29%) of respondents said they go on holiday to escape everyday life, the second most important driver after the desire to relax and unwind (43%). Nearly a fifth of Brits (16%) admitted they ‘live for holidays" while one in four said that needing something to look forward to is their main motivation for booking a trip.
16% are prompted to book after hearing about their friends' holidays, while 15% are inspired by seeing others' holiday experiences in social media. Almost one in 10 (7%) said they decide to book a holiday after a bad day at work.
When it comes to the perfect holiday, soaking up the local culture topped the list of holiday must-haves, (34%).
Young adults leading the charge for sustainable travel
Environmental concerns are fast becoming a key focus for the travel industry and travellers alike. As a result of this summer's record temperatures and extreme heat in southern Europe, 40% of travellers are changing their plans, with 14% deciding to visit southern Europe in the cooler Spring months instead. While nearly half (48%) of those polled say climate change has made them consider more sustainable options when planning a holiday, only 13% plan to reduce their air travel.
The Travel Tracker also reveals a generational split, with young adults leading the charge for sustainable travel. Nearly three quarters (71%) of 16–24-year-olds surveyed say they are considering more sustainable travel options and over half (52%) of 16–24-year-olds said they would be willing to pay more for a sustainable holiday, compared to 41% of all adults polled. While the typical Brit is willing to spend 14% on top of the existing price for a more sustainable holiday, 16–24-year-olds said they would pay nearly a quarter (24%) more.
Steve Byrne, CEO, Travel Counsellors, said: "The clear takeaway from our Travel Tracker Report is that holidays will always be a number one priority – whether in terms of financial investment or emotional fulfilment.
"While the travel industry has changed dramatically in recent years, our forward bookings are stronger than ever before. Travel advisors continue to play a vital role, and we've seen an unprecedented number of customers actively seeking trusted advice and bespoke support from our dedicated travel experts, all in pursuit of crafting the perfect holiday experience. This is reflected in the research findings, which show over a third of Brits (36%) have booked a holiday through a travel advisor in the last 12 months. This rises to over half (53%) for those that have a joint household income over £75,000.
"There is much to be optimistic about for the future of the industry, underscoring its enormous value that it holds for the UK economy."