03 August – LONDON - Holiday starved Brits are poised to spend on average a whopping £770 each whilst on their 2-week holiday in the sun this summer, according to research released today by travel insurance giant Staysure.

With the summer holidays firmly underway, holidaymakers are all set to splash the cash this holiday season, with the majority of Brits (61%) that were surveyed in a recent poll claiming to have budgeted up to a healthy £40 per day towards enjoying themselves. This suggests that UK holidaymakers - some of which have not stepped foot in an airport since pre pandemic times - aren’t willing to sacrifice their fun in the sun despite the ongoing doom and gloom of the economic climate.

The research, commissioned by Staysure - the UK’s leading travel insurance company that specialises in covering holidaymakers with pre-existing health conditions - quizzed 2,500 respondents on their holiday spending habits with some interesting results.

Whilst over 8 in 10 (81%) Brits responsibly consider their spending money when thinking about their holiday budget and daily allowance, whether they stick to it or not is a completely different story.

Just over 1 in 7 (15%) respondents admit to their holiday budget going out of the window with the over 55s being the worst culprits with nearly a quarter of them (21%) admitting to not sticking to the budget they set for themselves.

Shockingly a further quarter of Brits (24%) claim to overspend by £41- £50 a day – across a 2-week holiday, which amounts to a whopping £637.

Furthermore, nearly a fifth (19%) of Brits who stick to their holiday budget admit to overspending by £50+a day – this total up to a minimum of £700 across a 2 week holiday! It is clear that UK holidaymakers want to forget their troubles whilst abroad, with 66% agreeing with the statement “you can’t put a price on having fun on your holiday, so I don’t want to think about money.” That’s nearly 7 in 10 people not watching their pennies whilst on holiday.

When it comes to what we’re spending our money on exactly, it seems that the boozy Brits abroad image that is often associated with holidaymakers from the UK is long gone and has now paved the way for a more sophisticated culture loving traveller…

Nearly 3 in 10 of us (27%) spend the majority of their holiday budget on sightseeing and enjoy visiting places of interest and historic sights. Staysure has put this new appreciation down to restricted travel during the pandemic and leaving holidaymakers eager to leave their resort to explore the local culture and soak up all their holiday destination has to offer rather than having a prime seat at the bar.

CEO and founder of Staysure Ryan Howsam says “we’re delighted that UK holidaymakers are able to travel far and wide and see the world again. After two years of incredibly difficult times it’s no surprise that the pandemic has made us all far more adventurous and keen to explore local cultures rather than just the inside of a resort. The pandemic has made us all realise we can’t take holidays for granted and how lucky we are to have so many incredible countries right on our doorstep. It’s great that people are taking advantage of the freedom that travel brings and continue to be adventurous.”

Food is a close second with 1 in 5 (20%) spending most of their holiday budget on fancy restaurants. Surprisingly it’s the 16–24-year-olds who spent the most of their money on luxury culinary spots, with over a fifth (21%) of young people splashing the cash at fancy restaurants.

Shockingly, the age groups that spent the least on expensive meals out are the ones who have arguably the most disposable income. The research shows that a fifth of 45-54-year-olds (18%) are willing to splash the cash. It seems that it’s the older Brits who have the tightest purse strings, with only 17% of 55+ year-olds willing to allocate their holiday budget to fancy food.

Brits ditching the booze and allocating more money for cultural activities is also true when it comes to the food bill. Brits spend more than double on food than they do on alcohol with only 12% willing to spend the majority of their money on the bar tab. So perhaps this shows we’re fast becoming a nation who now have an appreciation of the local cuisine and culture and the boozy brit abroad is a thing of the past!

For further information, please contact Staysure’s press office at Borkowski

• Aoife@borkowski.co.uk // +44 (0) 7809 712 453

• Olivia@borkowski.co.uk // +44 (0)7745749919

• Staysure@borkowski.co.uk // +44 (0)20 3176 2700

NOTES TO EDITORS

About Staysure

Founded in 2004, Staysure who is owned by Staysure Group, is a trading name of TICORP Limited. Staysure is the UK’s most trusted and fastest growing travel insurance brand offering a range of highly competitive travel insurance policies for people aged over 50 and those who have pre-existing medical conditions. Policies can be tailored to the customer’s needs and medical screening is available both online at www.staysure.co.uk (https://www.staysure.co.uk) and over the phone.

TICORP Limited operates out of Gibraltar and is licensed and regulated by the Gibraltar Financial Services Commission. TICORP Limited sells products and services specifically designed for the UK’s over 50s market and employs 500 staff.

As measured by Trustpilot, Staysure’s customer ratings are at an ‘excellent’ 4.7 with over 200,000 reviews, making Staysure officially the most reviewed UK travel insurance provider.

Always check your destination’s government advice, safety guidelines and entry requirements on the FCDO’s travel advice page before traveling. (https://www.gov.uk/foreign-travel-advice)

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