Travellers are banking on cheaper breaks, shorter getaways and more staycations in order to take a holiday in 2023, according to Go.Compare Travel Insurance.
A poll by the insurance comparison site found that many holidaymakers will opt for budget breaks in 2023 as a result of rising costs. Nearly a quarter (22%) say they will spend less on a holiday next year and 12% will search for cheaper destinations. A fifth (20%) will also reduce the number of getaways they take, as consumers aim to save money where they can.
Just 1% will go to more expensive destinations, spend more on their break or take more trips than usual, showing that Brits aren’t willing to splash out on pricey packages in 2023. Plus, 57% also say that if the cost of a holiday increases this would impact their current travel plans.
Shorter holidays and staycations are on the rise
Plans to book short breaks have had the sharpest increase of any holiday type, from just 8% of Brits in 2022 to 29% in 2023 - more than tripling since last year. Taking a shorter holiday could be a way for consumers to keep costs down, and may have contributed to the rise in staycations, which offer more flexibility.
Holidaying at home was popular in 2022 due to uncertainty over the Covid-19 pandemic, yet the number of people choosing this type of break looks to grow again in 2023. In fact, 17% say they will take a staycation because of the cost of living crisis, while 18% state last year’s airport challenges as their reasoning.
Many remain undeterred by 2022 setbacks
The travel industry and its customers faced several challenges in 2022, including airport delays, flight cancellations, staff shortages and double-booked breaks. However, these issues haven’t put everyone off taking a holiday, as a great number of Brits are still planning some type of break.
Compared to last year, holidaymakers' hopes for a getaway have actually grown, with more people looking at booking trips for next year than there were for 2022. Plans for beach and city breaks are among those that have increased, rising by 4% and 9% respectively.
While many will adapt their plans for next year, a huge 39% say last year’s airport staff shortage issues won’t impact their 2023 holiday. Similarly, 41% don’t think their travel plans will be affected by the cost of living crisis.
Ceri McMillan, travel expert at Go.Compare, said: “While it’s great to see that lots of us are still looking to go on holiday in 2023, the cost of living crisis has clearly impacted travel plans for some households.
“It looks like shopping around for deals will become even more of a priority for holidaymakers next year, thanks to the impact of rising costs. Travellers will be searching for more flexibility around the duration of their breaks, as well as the price, as the demand for cheaper holiday destinations increases.
“Meanwhile, because of issues that curtailed many getaways this year, consumers may seek out trusted brands when searching for their next holiday. This could mean more travellers looking for package deals that provide extra security. Plus, the industry could see a boom in last-minute breaks in 2023 due to the huge uncertainty that remains around travelling and its cost.”
