Britons still plan to spend on 2012 travel despite economic woes

Britons still plan to spend on 2012 travel despite economic woes

TripAdvisor®, the world’s largest travel website*, today reveals the results of its 2012 Travel Trends Survey - now in its fifth year. While the troubled economy is the most significant concern for Britons planning their 2012 holidays, travel budgets look set to remain healthy and tourism generally will be buoyant with two thirds (66%) of Brits planning to take between two and four leisure trips in 2012.

“This year’s results demonstrate that while financial concerns are clearly front of mind, resilient Brits are not prepared to sacrifice their 2012 holidays,” commented Emma Shaw, TripAdvisor spokesperson. “Brits are considering their holiday budgets carefully but crucially we still intend to spend on leisure travel, with the vast majority planning on spending at least the same as last year.”

Healthy budgets despite worry

Despite concerns over the state of the economy, Brits are refusing to sacrifice their 2012 holidays and are spending accordingly, even if that means booking on credit.

  • A quarter (25%) of Brits plan to spend more in 2012 on travel than they did in 2011. Only 16% plan to spend less, while 59% intend to spend about the same
  • Brits will do what it takes to have their holidays - one-third (32%) of respondents admit they won’t pay for their 2012 holiday up front, with one-fifth (21%) taking over two months to pay their holiday bill
  • The most common 2012 holiday budget for Brits is between £2K and £4K, which is the expected spend for 29% of Brits in the coming year
  • An extravagant 17% of Brits are clearly unconcerned about the economic situation as they plan to spend £8K or more on leisure travel in 2012


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yle="FONT-WEIGHT: bold">Economic anxiety overtakes volcanic concerns

Concern over the state of the economy is the biggest worry for Brits in their 2012 travel planning, replacing last year’s top concern of volcanic ash.

  • One-third (33%) said the economy is their biggest concern in travel planning, while despite trouble in Europe, only 27% of Europeans feel the same way
  • The following factors, in order, are most likely to affect travel planning for Brits in 2012:
    1. The current economic climate
    2. Terrorism
    3. Potential strikes/industrial action
    4. Air Passenger Duty (APD) tax
    5. Travel firms collapsing  
  •  

  • Over one-third of Brits (36%) are now more likely to buy holiday insurance as a result of uncertainty in the industry last year


Olympics Has Little Impact on Travel Plans

With beautiful beaches, historic cities and stunning countryside on their doorstep, Brits are this year planning to take advantage of what’s within their borders:

  • 40% of Brits intend to take a ‘Staycation’ in 2012, taking time off but holidaying at home.  This is roughly the same as last year (38%)
  • Over three-quarters (76%) of Brits are planning at least one domestic holiday for 2012 with nearly half (47%) planning to take two or more
  • The Olympics have, so far, failed to have a major impact on British travel plans:
    • Two-thirds (67%) of respondents said it will not factor into their travel 2012 plans
    • However 12% will purposefully not travel during the Olympics so they can stay at home and watch
    • A hopeful 10% intend to take advantage of possible bargain travel deals outside of the UK during the Olympics


Foreign Travel Forecast

The TripAdvisor Travel Trends Survey revealed short-haul travel is expected to outpace long-haul travel by a larger margin in 2012 than it did in 2011 as British travellers admit they’ll look to economically hard-hit Eurozone countries - Greece, Portugal, Ireland and Spain, for example - for good deals:

  • 88% of Brits are planning at least one short-haul trip in 2012
  • 60% of Brits are planning at least one long-haul trip in 2012, down from 66% in 2011.  
  • Of those planning a long-haul trip, North America is the most popular destination, followed by Asia then Africa
  • 34% of Brits admit they’ll plan to take advantage of hard-hid Eurozone countries for good deals


*Survey carried out on 6.092 travellers, including 1,440 respondents from the UK.  Survey conducted in October 2011