British keep spending on holiday despite economic woes
The latest study by Thomson, indicates that despite the current economic climate, once Brits are on the holiday, they forget all their worries - specifically financial ones. The Foreign Exchange Survey carried out by Thomson shows that 57% of people are spending whatever they like when abroad and not on what you would expect.
In addition to the primary expenses of spending on excursions, food and drink, Thomson found that UK holidaymakers love to splurge on souvenirs with jewellery topping the list of expensive souvenirs.
Top 5 most expensive souvenirs:
- Diamond rings
- Ladro figurines
UK holidaymakers also love bringing back mementos for family and friends. Topping the list of worst souvenirs were stuffed donkeys followed closely by fridge magnets and Sombreros. When it comes to souvenirs it's perhaps a case of the wackier the better with didgeridoos, bouzoukis, reindeer meat and nodding popes all mentioned.
Sting in the holiday budget tail
Financial frivolity is not the only contributor to UK holidaymakers overspending, until recently Brits were hit with many hidden card charges on all air, ferry and rail tickets. The Office of Fair Trading (OFT) has now banned this activity. They are also working towards abolishing charges which many people are hit with when they use their debit cards for travel – further good news for UK holiday makers.
Jeremy Osborne, TUI UK & Ireland Director of Financial Services, said, “This research highlights that despite the economic situation, customers are not saving for their holiday spending money or budgeting whilst abroad. However, there are ways for customers to budget and avoid nasty credit card bills when returning home. Travel Money Cards are one way of making sure you stick to a budget while abroad. You can preload your budget before you go, or put on small amounts throughout the year and then use the card like a debit card once you're away.”
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