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Brits to spend big on Bank Holiday getaways

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

James Ash

By

Content Marketing Executive at Motors.co.uk

May 23, 2018

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