"Brits also splashed the cash on foreign holidays last year. We spent a staggering £78.8bn when abroad, although even that didn't quite beat 2023's £79.8bn record spend. Brits really pushed the boat out on their holidays last year and all the early indications are that they spent a similar amount this summer. It's no wonder, as many of us live for that fortnight in Spain or Italy or a restorative break closer to home. Quite often we manage to do both during the year!"
"However, with the economic news remaining gloomy and concerns about more pain to come in the Autumn Budget, many people will be wondering if they can still afford the same sort of holidays as previous years. That's why two intriguing budget alternatives to hotels and holiday lets have been soaring in popularity in recent years, both here in the UK and in popular overseas hotspots such as Italy and Spain."
Brits increased holiday spending in 2024, with £183.1bn on hotels and £40.4bn on other accommodation, both above 2023 records. Overseas spending reached £78.8bn, narrowly below 2023's £79.8bn. Early indicators show similar summer spending levels. Economic uncertainty and concerns about the Autumn Budget have raised affordability questions for future holidays. Two budget alternatives to hotels and holiday lets have risen in popularity both in the UK and in overseas destinations such as Italy and Spain. One practical option highlighted is using university accommodation, which often stands empty during the summer and can offer savings.
Read at London Business News | Londonlovesbusiness.com
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