Job confidence boosts holiday demand
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More Brits are looking to head on a holiday now they feel more comfortable about their job and financial situation, the Holiday Confidence Index has found.
Data released from the index, a collaboration between First Rate Exchange Services, the Institute of Travel & Tourism (ITT), University of Wolverhampton and YouGov, found attitudes for overseas travel move up in six indices within the index, which has risen to its highest level to 51.
Around 41% of 5, 017 adults polled felt secure in their job, up 4% on last year, and this increased to 48% of those planning a foreign holiday.
Those aged between 25 and 34 are most confident of job security, while 18-24 year olds are more positive in their economic outlook. Older consumers are more concerned.
More than half (57%) said they will look to head overseas in the next 12 months, up 3% year-on-year and 37% plan to take two trips abroad, up 2%.
Europe and North America remain the most popular destination choices with short breaks of less than six nights seeing a boost.
However those polled were not so confident on the economic recovery, with 31% expecting it to improve against a summer high of 35%. Around 24% think rising interest rates will affect their holiday plans. The poll was taken around the time of the Scottish referendum which may have affected the outcome.
“Against a backdrop of low inflation, a growing economy and a definite sense that jobs are more secure, it is no wonder that Britons are feeling more confidence to plan holidays abroad in the coming year,” said Alistair Rennie, First Rate Exchange Services head of innovation and insight.
“[The fall in confidence] suggests that consumers remain watchful, perhaps understandably, as our poll took place around the time of the Scottish Referendum and we are now only months away from a General Election, which could unsettle the economy.”
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