-
Despite 65% of British travellers reporting holidays will be harder to pay for this year, majority are determined to travel anyway
-
41% want a break to escape everyday stresses
-
KAYAK 2023 Vacay Valuator helps users save for their next get away
-
Rachel Riley shares her top tips to save
As new research* reveals 65% of British holidaymakers are finding it harder to pay for their travels this year, KAYAK, the world’s leading travel search engine, launches a new budgeting tool to help people save money and plan their next getaway.
UK consumers are feeling the pinch on their wallet in nearly every way, including when it comes to travel. According to recent data figures, an 8.9% rise in inflation rate shows the average annual household holiday cost has increased by £137 based on the previous year*. However, holidays still seem to be one expenditure people aren’t willing to sacrifice. According to a new study** 82% of British holidaymakers are still set on going away this year.
And there is a clear need for some time out – 41% of respondents report needing a holiday to escape and switch off from everyday stresses, while almost half (47%) said they need a holiday as they need something positive to look forward to. And switching on that out of office is key for some, as 28% said they have been working really hard and need a break.
Thus, when it comes to holiday planning in 2023, the question for most Brits doesn’t seem to be if they are going away, but how.
Adjusting everyday spending habits is one way holidaymakers will be budgeting. According to the survey conducted amongst 2,000 UK holidaymakers, the majority of the respondents (85%) said they’d be willing to forgo certain non-essential purchases in order to fund their next getaway.
Cutting out takeaways came out as the top thing Brits would do to help save for a holiday with 55% of recipients prepared to forgo the treat. Second on the list was cut back from eating-out (50%), with pulling back on new clothing purchases (40%) and sacrificing takeaway coffee (30%) coming in third and fourth respectively.
To make it easier for everyone who needs a getaway, KAYAK has created the, Kayak has launched today, the 2023 Vacay Valuator, an online tool designed to help travellers plan and save for their holiday and help them find the perfect destination for their getaway. The interactive tool provides an easy and practical way for people to see how much they could save by making small adjustments to their spending habits to help fund their holiday.
Using the calculator is simple. Travellers simply select the items they are willing to reduce their spending on – from takeaways to TV subscription services – and for how long. The 2023 Vacay Valuator then does its magic – working out what the possible savings will be and what flight routes are available for a price equivalent to the proposed saving.
For example, the interactive tool shows that swapping takeaway meals and eating out for cooking at home for two months could save you more than enough to fly to a foodie paradise like Italy, with a round-trip flight to Venice in August found from around £96****. Or, ditching nights out for a month can save on average £73 a month, which could fund flights to La Rochelle, France for a week in August, with average flight prices starting from around £66****.
Evan Day, KAYAK UK commented, “As a global travel leader, we are constantly looking to develop features to make travel planning easier and more affordable. Our Vacay Valuator is the latest illustration of this. Travellers have told us that they find it easier to save for their holiday when there is a clear goal and specific time period in which to save. The Vacay Valuator clearly displays destinations travellers can afford based on the savings they can personally make. So don’t write off your holiday just yet and see how much you could save and where you could fly to.”
TV’s Rachel Riley, commented, “I’m really excited to get away this year, but with the cost of everything going up, my eldest being in school and Pasha’s work schedule, we’re going to be tied into going on holiday during the peak season. Anything to help save money and find the best deals for a family holiday is definitely part of my holiday planning. And there are plenty of ways to save for booking your holiday, but also cut back your spending for what you take on holiday, such as avoiding buying new clothes. My friends and I raid each other’s wardrobes to borrow clothes and shoes for ourselves and the kids, it saves money and it’s more sustainable.”
Rachel Riley’s top tips to save for your holiday:
- Raid your friends’ wardrobes or rent your holiday outfits – my friends and I always borrow clothes off each other, especially when it comes to the kids as they grow out of things so quickly, it’s also a great way to be more sustainable. Let’s face it, with the British weather, you might not get to wear those outfits again so borrowing or renting the clothes can save you a lot of money when you think about the cost per wear. Sites like Hirestreetuk.com are great for affordable fashion rental.
- Reduce takeaways – it’s all too easy to order a takeaway when you aren’t in the mood for cooking, but this is one of the things people are willing to give up to save for a holiday, and it’s probably the easiest as we can replace it with cooking at home. Why not try signing up for a recipe subscription box? Many offer big discounts on your first few boxes (just make sure to cancel before the discount offer ends). It will encourage you to cook and give you some new recipes to try – you might even find some inspired by the destination you are saving up to visit!
- Swap the kids soft play for the park – as the weather is getting warmer, it’s a great time to make the most of the days that the sun shines in the UK and take the kids to the park for some fresh air and save money on the cost of indoor activities.
- Plan your holiday activities in advance – planning a holiday is just as fun as the holiday itself, so spending some time to plan what you want to do when you get there, and looking at how much things cost can help you to make sure you take the right amount of spending money with you and avoid overspending on the holiday.
- Use a specialist credit or pre-paid travel card – working out when to get travel money for the best exchange rate can be a gamble, but using a specialist travel credit card can help you to get the best exchange rates so you’re getting the most for your spending money.
- Use a travel search engine to get the best price – use a site like Kayak.co.uk to help you find the best deals. There are plenty of tools to help you like the Vacay Valuator to help you save for your holiday, or the Explore page to find destinations within your budget. You can also use tools like price alerts and flexible dates to help you find the best prices.
For further inspiration, KAYAK data shows that there are plenty of destinations to fly to for less than £200 this summer.
– ENDS –
Note to editors:
KAYAK offers a wide range of tools including a variety of search filters to find the flights, cars and hotels to help travellers book their next getaway including:
- Explore: Debating where to travel? Use KAYAK’s Explore tool to see all the amazing places you can visit within a given price range.
- Flexible Dates: KAYAK’s flexible dates tool shows you how much you’ll save just by having some wiggle room on your arrival or departure dates.
- Price Forecast: Use KAYAK’s price forecast tool so you know the likelihood of your flight price rising within 30 days, helping you determine whether you should book now or wait.
- Price Alerts: Never miss a deal by signing up for KAYAK’s customised price alerts so you know when prices change for the flight or hotel you want.
**An online survey was conducted by Walr among 2002 UK consumers who have been on holiday in the UK or abroad within the last five years. The research fieldwork took place between March 31 – April 03, 2023. Walr is a member organisation of the Market Research Society and abides by all codes of practice.
***Based on flight searches made on Kayak.co.uk and associated sites in the period between 01/10/2022 – 02/01/2023 for travel dates 01/06/2023 – 30/09/2023 for flights departing from any UK airport. Prices may vary and savings cannot be guaranteed. Percentages for changes in searches are approximate.
****Based on average flight prices on the KAYAK Explore page as at 16/05/2023
ABOUT KAYAK
KAYAK, part of Booking Holdings INC. (NASDAQ: BKNG), is the world’s leading travel search engine. With billions of queries across our platforms, we help people find their perfect flight, stay and rental car. We also support business travellers with KAYAK for Business, our free corporate travel solution, and are transforming the in-travel experience with our app and new hotel and accommodation software. For more information, visit www.KAYAK.co.uk
