New research has revealed that our holidays are costing us more than we think; over the course of the 2016 holiday season Brits overspent on summer getaways by £2.4billion due to unforeseen costs according to a survey by minicabit.
Brits are spending an average increase of nearly 10% of the original cost of a holiday down to extras such as holiday insurance, excess baggage, airport transfers, car hire and duty-free purchases, amounting to £128.14 per holiday.
To provide some context to that level of spending, £2.4billion is not only virtually 10% of the total cost of a holiday added on again, it is also 9.13% of the entire spend by UK residents travelling abroad for holidays in 2015 - £26.3billion.
Forking out for these extras often appears to be due to a lack of planning, as a third of respondents simply didn’t know how much they spent on extras.
One of the major factors was holiday insurance, with an average £40.25 overspend on this alone. This can be attributed to part of a wider problem which was highlighted by a Gov.uk survey that 24% of UK travellers holidaying overseas in 2012 were uninsured, 48% of which were 15-24 years old.
The results also revealed that travellers of 18-24 years of age have the highest unexpected costs, racking up bills for excess baggage and duty-free purchases in particular and, in terms of UK location, Londoners splash out the most with a mean overspend of £177.62, with high roaming costs for those unable to switch off from work being a major factor in this.
For details see https://blog.minicabit.com/why-holidays-cost-more/
Image Source: P.C.H. via fotolia