Two-thirds of holidaymakers with a budget ‘bust it on most recent trip abroad’
Families were particularly likely to have overspent, the survey from Post Office Travel Money indicated.
Your support helps us to tell the story
As your White House correspondent, I ask the tough questions and seek the answers that matter.
Your support enables me to be in the room, pressing for transparency and accountability. Without your contributions, we wouldn't have the resources to challenge those in power.
Your donation makes it possible for us to keep doing this important work, keeping you informed every step of the way to the November election
Andrew Feinberg
White House Correspondent
Two-thirds (67%) of holidaymakers who set a budget for their most recent trip abroad bust it, overspending by more than £150 on average, a survey has found.
The typical overspend was put at around £155, according to the Post Office Travel Money holiday spending report.
Restaurant meals, shop and supermarket-bought food and drinks, and sightseeing trips were among the outgoings blamed for overspending.
Nearly four-fifths (78%) of people said they set a budget on their most recent overseas trip.
Families were particularly likely to have overspent, the survey indicated.
More than three-quarters (76%) of families set a budget for their last holiday but 73% overspent, by around £312 on average.
Back in 2019, before the coronavirus pandemic and the cost-of-living squeeze, the typical overspend by families was £159.
Around two-thirds (68%) of families plan to travel abroad this year.
When holidaymakers who had previously visited destinations abroad were asked which they rated as good value, Greece came top, just pipping Spain and Portugal.
Laura Plunkett, head of travel money at the Post Office, said: “The evidence provided by holidaymakers who have travelled abroad in recent years makes it clear that most people set inadequate budgets and end up overspending as a result.
“Given the rising concerns about resort costs, we urge holidaymakers to think back to the overall cost of their last holiday and set a budget based on that experience.”
More than 2,000 people from the UK were surveyed by Yonder in April for the research.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.