Brits are preparing to jump in their cars this weekend and travel further than ever for their Bank Holiday getaway, according to new research.
With more 21 million UK adults* planning at least one bank holiday getaway this year, and budgets averaging £407 per trip, the annual cost for long weekend breaks looks set to reach £8.6 billion** in 2018.
The research, conducted by American Express, also found that rather than staying close to home, more than half of Brits (59%) plan to travel for longer than two hours to reach their bank holiday destination. The majority will get away by car (64%), whilst others prefer to avoid the motorway jams – 16% will travel by plane and 12% will jump on a train.
Top costs for those on bank holiday getaways include accommodation (£92), travel (£61) and dining out (£40). Overall, Brits spend on average two and half times more when they go away for a bank holiday weekend than when they stay at home (£407 vs £116).
Maggie Boyle, Director at American Express, says: “Whether you’re planning home improvements or topping up your tan this bank holiday, it’s wise to think ahead about your spending. Using a credit card that gives cashback or rewards will mean your money works harder for you, and you can accrue points to treat yourself later in the year.”
*51,767,543 adults currently live in the UK (ONS). 41% go on a bank holiday getaway
41% of 51,767,543 = 21,224,692
Average spend by UK adults on bank holiday getaways = £406.65
**21,224,692 x £406.65 = £ 8,631,021,001.80