The amount of money that Brits expect to spend on holidays and leisure travel has fallen for the first time in two years according to the Jamaica Tourist Board.
This unprecedented drop mirrors falls in other areas of spending, such as credit cards expenditure.
The organisation questioned 1,000 Brits about their holiday habits and spend every three months. For travel between January and March this year, the average Brit anticipates spending £412 on everything from short breaks and last minute deals to main (summer) holidays and long haul trips. This is £170 less than the amount that people budgeted in January last year (£582).
The key area of expenditure for this quarter is the main holiday, with Brits expecting to spend £150 over the next three months - compared to a predicted expenditure of £227 during the same period last year. Historically. January is a key time for holiday bookings with travel agents and destinations alike competing for consumer attention.
Long haul travel attracts the second highest level of predicted spend. Brits expect to pay out £75 on this type of holiday during the first quarter of the year, compared to £122 last year. Other travel costs including visiting friends and relatives (£74), city breaks (£65) and last minute deals (£48) are also down.
Elizabeth Fox, Regional Director for the Jamaica Tourist Board, said “Our latest findings reveal that, while holidays are extremely important to Brits, many holidaymakers are now taking a closer look at the value for money that destinations provide.
“Jamaica is known to be one of the best value long haul destinations. The island offers a wide range of holidays carefully designed to meet a variety of budgets, and also a range of experiences, from all-inclusives for the whole family to five star luxury and escapism.”