More than half of Brits will travel abroad next year despite economic uncertainty over Brexit, and over 70 per cent will travel to Europe, according to a new survey.
The survey of 5,114 consumers, conducted annually by YouGov in partnership with foreign currency supplier First Rate Exchange Services and the Institute of Travel and Tourism, found that while only 19 per cent of respondents expect to see economic growth in the year ahead, the majority of consumers are still planning on taking an overseas holiday.
Of those planning trips abroad, 46 per cent have already booked their first holiday of the year, up from 44 per cent a year ago. The prospect of European holidays hasn't dimmed for British travellers, either: the survey found that the continent is the destination of choice for 71 per cent of respondents.
Liam Hodge, head of insight at First Rate Exchange Services, said that these figures “provide good reason for the travel industry to feel optimistic that consumer demand will remain buoyant in challenging times ahead".
“The number of people who have already booked trips abroad is a reassuring confirmation that this type of holiday is a part of their lifestyle they are not willing to forgo.”
While the prospect of Brexit isn’t proving off-putting for British holidaymakers, it is impacting their spending plans. The proportion of consumers intending to pay more for their holidays has fallen by three per cent since last year, and there’s been a one per cent rise among those wishing to pay less.
The survey also found that nearly two-thirds (64 per cent) of consumers regard foreign holidays as an important part of their lifestyle; while 37 per cent of respondents say they will holiday in the UK if the weather is good, up from 34 per cent last year.
There is still a lot of uncertainty surrounding travel in the event of a no-deal Brexit.
