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/
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