Right now is the busiest time of year for Brits to book overseas holidays, and it is not hard to see why. It’s cold, and winter is far from over. If Brits want to beat the cold, they have to travel to some place that has a more enjoyable climate. Unfortunately, it looks as if many Brits are going to forgo overseas holidays because they are unable to afford it.
The Association of British Travel Agents said that not all Brits are looking at foreign holidays this year. Out of the Brits who were questioned, 21 percent admitted that they would not be able to afford a trip overseas this year. Another 18 percent said that they would have to make significant sacrifices if they wanted to afford to make an overseas trip.
The ABTA went on to say that it is women who are feeling the lack of money the most. Nearly 22 percent of women said that they could afford a holiday by themselves. This was 10 percent lower than the 31 percent of men who said that they could. Either way, just 26 percent of Brits said that they would be able to afford an overseas holiday this year without breaking the bank.
That being said, 11 percent of Brits say that they are doing better this year than last. This means that they could afford to take a better holiday than last year. So despite all of the doom and gloom, there is a small percentage of Brits who are starting to recover from the economic downturn.
In general, it is the young crowd that cannot afford a trip overseas. People who are over the age of 55 are the most likely to be able to afford an overseas trip, at nearly 35 percent. Only about 25 percent of people aged 35 to 54 said that they would be able to.
Out of the people who are going on an overseas holiday, 13 percent of them said that they would be going on holiday with money that they have been saving especially for that reason since last year. Thus, these holidays have been a long time coming. Three percent of Brits said that their relatives and parents would be helping them afford a holiday overseas. This 3 percent was mostly represented by the younger crowd. Shockingly, nearly 5 percent of people said that they are just going to put their holiday on their credit card to be able to afford it. Last but not least, 2 percent of people said that they are going to take a pay day loan in order to afford their holiday.
Experts in the travel industry admit that they are shocked at the number of people who are charging and borrowing money in order to take a holiday this year. It just proves that people “need” their holidays and are willing to do anything to have them. Some families are literally putting themselves in debt just to go on holiday this year.