Despite initial concerns over the demand for holidays post-Brexit, recent research into current travel booking motivations and worries, conducted by Caribbean hotel group Sandals Resorts, showed that an overwhelming 81% of British participants surveyed did not avoid booking a holiday until they knew the results of the EU Referendum.
A survey of 2,000 Brits also explored the fears and reservations of holidaymakers and found that the main worries people had post-Brexit were money based, with over a third of those surveyed stating that concerns over exchange rates would make them less likely to travel and 79% claiming that value for money was a major factor to consider when booking a holiday.
With value for money high on the priority list, it was no surprise that holidaymakers were looking for cost-effective options, as they chose ‘all-inclusive’ as their most preferred board basis (34.70%), with half board the option they would be least likely to choose were they to book a holiday now (18.40%). Those with children were much more likely to book an all-inclusive (43.97%) over half board (13.85%). Interestingly, Millennials (aged 25-34) were more likely than any other age group to book an all-inclusive holiday (38.5%).
Despite demand for holidays remaining high, another money related trend identified via a travel industry forum was an increase in customers wanting their money to go further, “Couples certainly still want to go on holiday and get married overseas, however they are more cautious on how much they spend and want more for their money.” said Gillian Ashwood from Brilliant Travel in Scotland. Last minute bookings were also cited to be on the rise, Deana Manser from Travel Club Elite comments; “I am seeing a lot of customers coming to me asking for holidays for next week, in the peak of summer, which is obviously a struggle.”
When it comes to price, British holidaymakers are prepared to spend on average £1,072 per person for a long-haul holiday, with just under a quarter saying they would spend between £1001 – £2000 per person. Men are prepared to spend on average £64 more than women on a holiday and families £70 less than those without dependents.