The package holiday is bouncing back as people’s financial worries begin to ease, according to market research by The Co-operative Travel, which found that 81% of respondents feel that their economic circumstances have either stabilised or improved since last year, leading to a 14% increase in the number of people planning a holiday abroad this year.The research also revealed that while an estimated 79% of us are planning a foreign holiday (a rise from 65% last year), it seems many are leaving it late, with the industry reports showing that current holiday sales overall are still on a par with last year.
The operator’s director of retail distribution, Trevor Davis, believes that this is because people are being more careful about their choices.
He said: “We’re seeing evidence that people want this year’s holiday to be special, especially if they went without a foreign break last year. Our research suggests that a significant number of people (39%) are planning to spend more than last year and many (33%) are planning to try a new holiday experience for the first time, with cruise holidays or adventure breaks particularly popular.”
The company says that some destinations are already benefiting from a renewed financial confidence, with large increases in bookings to Turkey (37% up on 2009) and Egypt (up 18%), whilst Florida (up 7%) is benefiting from the launch of the new Harry Potter theme park.
Davis said: “Turkey looks to be the biggest beneficiary of any increase in travel spending and has now overtaken Greece as the UK’s second favourite holiday destination.”