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Brits 'blow savings' on holidays

(19 Aug 2008)

Going on holiday? – Get a great deal on travel insurance

It seems that us Brits are determined to enjoy our annual two weeks in the sun, even if it means spending some of our savings to get there.

A recent report by Abbey revealed that Britons spend around £50 million of their savings on holidays abroad each year.

The average Briton spends around £1,650 on holidays every year, equating to £81 billion for the entire adult population.

However, money spent on holidays is clearly not a waste, with 26 per cent of people adamant that taking a break in the sunshine is the best way to "blow excess money".

The study also revealed that despite the credit crunch, holidays are still an essential item, with 33 per cent of Britons admitting that enjoying expensive holidays is one of their top priorities.

Meanwhile, recent research by Cater Allen Private Bank found that 43 per cent of Brits use holidays to boost their mental well–being.

This article is brought to you by Go Travel Insurance – Specialist in travel insurance and holiday insurance.

Going on holiday? – Get a great deal on travel insurance.