More than half of UK adults (58 per cent) intend to take a holiday overseas this year

New research from First Rate Exchange Services Limited (First Rate) has revealed some positive signs for the travel industry with 58 per cent of UK adults stating they intend to take at least one holiday overseas this year. A further 22 per cent are still considering their travel options.

The research from First Rate also reflects a slight increase in confidence from people in their ability to undertake international travel - only 54 per cent of people were intending to travel in the next 12 months when the same YouGov survey of 5000 adults was completed in July 2009.

This year, Londoners are the most likely to be heading off to foreign climes with over two thirds (68 per cent) intending to travel abroad. This compares to 54 per cent of people in the West Midlands, who are the least likely to take an international holiday this year.

The 18-24 age group is the most likely to embark on international travel; 64 per cent will be going on holiday in 2010. This compares to just 54 per cent of the 35-44 year olds, for many of whom holidaying with children may prove to be a luxury they can’t afford this year. However, a quarter of this age group (24 per cent) say they have still to decide whether they will have an overseas holiday this year.

Gordon Gourlay, Managing Director, First Rate said: “It is of course good news for the travel industry that the majority of people intend to take at least one international break this year. It appears, however, that in the early part of 2010 there may be greater demand for holidays which appeal to younger age groups, as many families are set to forgo their traditional break or intend to leave it until later in the year to decide whether finances will stretch to a holiday abroad.”

In terms of socio-demographic differences to holidays this year, 63 per cent of ABC1s will be going on holiday, this compares to 53 per cent of C2DEs.

First Rate is the UK’s leading provider of foreign exchange services to foreign currency retailers. It provides a wide range of white labelled foreign exchange services available to businesses large and small across the UK. Its clients include The Post Office, Virgin Holidays, Santander, easyJet and P&O Ferries.