Why we are choosing holidays
People are choosing to spend their money on holidays in the cost of living crisis
In the current cost of living climate, many people are feeling the pinch and need to make their money stretch further. With this in mind, we need to make more choices on what we spend our money on, and many people are choosing to spend their money on holidays.
Previously, many people would budget their monthly income to cover their bills and necessities and then use the remaining income to buy clothes, luxuries, entertainment, and savings towards holidays. Now many do not have the luxury of having much remaining income at the end of the month to put towards "extras" and must make the decision on where to spend any money left over and holidays seem to be winning!
During two very tough years in 2020 and 2021 when most of the world was in lockdown at various times during this period, and the choice to travel was not ours to make, we struggled with not leaving our homes and getting away. Even when the world started moving out of lockdown, travel was not so easy and many were worried about traveling, especially abroad due to the different rules and restrictions. So it is completely understandable that now we can easily travel again, we are choosing to, and forgoing a holiday this year for many is not an option.
According to Park Home Magazine, nearly three-quarters of Britons are planning to go on at least one holiday in the next year despite the rising cost of living – up 14% in just over 6 months. The intention to take a break to a UK destination shot up to 73% from 59%. The proportion of UK adults planning a holiday abroad within the next year also rose to 57% – up from 43%. Nearly 9 in 10 disagreed with the idea that the cost of living crisis would lead to them being likely to take fewer UK breaks over the next year.
According to The Independent, holiday spending surges in 2023 despite the cost-of-living crisis. Money spent on flights and holidays rose in the first three months of 2023 compared to the previous year despite the cost of living crisis, according to new research. Spend data showed a 27% jump year-on-year on package holiday bookings, while for airlines the number of transactions rose by 36%.
According to the Yorkshire Evening Post, reports reveal that on average, UK households will spend almost £2,000 on holidays this year.
Inflation and holidays in high demand results in rising costs for holidays.
However the Post Office Travel Insurance does have some tips on how you can save money when booking a holiday:
- Book early - Flights increase in price the closer to the time of departure, as seats are sold.
- Don’t fly at popular times - If you can arrange your holiday to depart and return at odd times, such as early on a weekday morning, then flights may be cheaper than at more popular times like weekends.
- Look out for sales - Most airlines have sales, just like shops. Keep an eye out for the potential savings you could make.
- Be flexible about destinations – If you are totally flexible about where you want to go on holiday then you can see where airlines are offering the cheapest flights to. If you know the region you want to be in, take a look at nearby airports as well as the main destination hub, there may be cheaper flights to your desired destination if you’re willing to travel a bit.
- Pay for your flights with your credit card - This won't save you money but it can offer you protection if anything goes wrong with your airline.
- Buy your travel insurance when you book your holiday - Travel insurance is important for any trip abroad. If you’re covered from the point of purchase then you can be protected if certain things prevent you from going away.
- Buy your travel money in advance - Buying travel money at the airport can be much more expensive than getting it in advance. And if you buy at a time when the exchange rate is favourable, you can lock in that saving.
- See if you can fly for free - If you’ve got a credit card that accrues points, you may have earned yourself a free flight. It’s always worth checking this. This can be particularly useful if you’re happy to be flexible on destinations
The pandemic and cost of living crisis have meant that holidays are more important than ever. As a chance to get away and relax from our day-to-day normal life and to spend time with family and friends to make memories that can last forever. Studies show that taking a holiday and enjoying some time away from our jobs can help both our physical and mental health. Holidays can lower our stress levels, reduce health issues, give us a better outlook on life, and make us more motivated when we return home.
Reasons why holidays are good for our health:
Six reasons why holidays are good for our health according to Staysure Insurance
- Being more active – Walking and activities such as swimming, hiking or paddleboarding feel much less like exercise and more like fun when we are on holiday. It is a bonus that it is good for our physical health!
- Recharging your batteries - Going on holiday allows us to recharge our batteries and get away from it all. Planning the trip itself can boost happiness and give us something to look forward to! Being away from our day to day pressures means stress levels reduce and blood pressure drops. The downtime on holiday is also great for giving our mind some respite.
- Expanding the mind - Whether you take a city break, or a trip to the country, there’s plenty of new scenery to enjoy when we’re on holiday. Meeting new people, experiencing a new culture and adapting to new situations can stimulate and engage the mind.
- Embracing the elements - For many of us, a change in the weather is reason enough to go on holiday! A healthy amount of sunshine gives our body a boost of vitamin D, which can promote strong bones and a more effective immune system and boost energy levels.
- A chance to reset - A holiday gives us a chance to reset. If you have developed some bad habits over time, it can feel overwhelming to try and rectify them but a holiday can provide us with the break and time to reassess our current situation.
- Holidays are good for mental health - It’s become clear that holidays are hugely beneficial for our mental health. There really is no better time to spend doing the things you love than being on holiday, either by yourself or with loved ones.
So whether you are planning a holiday in the UK or abroad, it’s good to know the health benefits these trip bring. If you are planning a holiday, by booking via our Shop&Give platform you can also raise a generous free donation for the cause you care about. The retailers thank us for sending you to them by paying us a commission which we convert into a donation for your chosen cause or causes. You’ll enjoy the benefits and so will your chosen cause!
About the author
Luisa Gatward
Our Head of Operations, Luisa is responsible for the smooth running of all operations including marketing and partner relationships. Having started working for TheGivingMachine in 2010, she has seen our Charity grow and develop into what we have today.