LV= research reveals a quarter of UK adults plan to holiday in the UK this year
New research from travel insurer LV= has shown that a quarter of UK adults plan to take their main holiday in the UK this year, whilst a further 15% say they do not intend to have a ‘main’ holiday this year at all.
Almost five million adults who are taking a UK holiday this year (40%) put their decision down to financial concerns, with 16% admitting they cannot afford to go abroad, 13% blamed unfavourable exchange rates, and 11% simply said that a holiday in this country will be cheaper. These concerns have affected Londoners by far the most; with 59% of those holidaying in the UK saying that financial factors led to their decision.
On average, those staying in the UK estimate they will spend £477 per week on their holiday. This compares to those going abroad who think they will spend £728; meaning that the UK holidaymakers will be saving on average £247 each, leading to a UK wide saving of just under £3 billion on holidays in 2009*.
Emma Holyer, spokesperson for LV= travel insurance, commented: “It’s not surprising that many more people are looking to take their main holiday in the UK this year. The sliding value of the pound, particularly compared with the Euro and US dollars, plus the overall economic climate, have made holidaymakers think twice about spending their hard-earned wages on a trip abroad.”
Further LV= research** has indicated that more than five million Brits are planning to cut back on one or more insurance policies this year, with 22% of these looking at cutting a travel insurance policy. These new figures show that 59% of those holidaying in the UK do not intend to take out any form of insurance cover for their break.
Emma Holyer continued: “It is important that these people remember that even though they are staying in this country, travel insurance is still important. It will help to ensure that they don’t end up out of pocket if they have a problem with their transport arrangements, such as missing their train, plane or bus, or if their belongings go missing. In addition, if customers have to cut short their holiday or cancel for any reason, insurance will mean they can claim back some of the costs.”