As we are approaching the peak summer travel period, HSBC UK 1 set out to uncover the key travel trends and spending habits of Brits. In a survey of over 2000participants, the results reveal intriguing insights into how British holidaymakers plan and spend during their getaways.
Package holidays take the lead
The survey has revealed that package holidays reign supreme among British travellers, with 35% favouring this option. This trend holds steady across almost all age groups, apart from 36% of 25-34 year-olds and 47% of parents who travel with their children who say they prefer city breaks. The survey also revealed the top destinations this year:
1. Spain: according to 28% of UK respondents
2. Greece: 17%
3. Italy: 16%
4. France: 14%
5. Portugal: 13%
Saving strategies for UK holidaymakers
The average Brit spends eight months saving for a holiday, with parents facing a longer ten-month savings period.
The survey found the overall cost of a family holiday abroad is the most important deciding factor for 54% of parents who travel with their children, followed by a sunny/warm climate (51%) and 44% of parents consider the price of their holiday accommodation.
Splurging, but keeping it taboo
The typical holidaymaker spends an additional £250 on “extras” during a week-long getaway compared to their regular at-home expenses. This extra spending often goes towards dining out, attending live events, shopping for clothes, and transportation.
Interestingly, the survey also revealed that holiday spending is a sensitive topic, with 57% of respondents admitting they never disclose their expenditures while away.Younger travellers are far more open about their holiday spending, with 64% of 16-24 year-olds willing to discuss their expenses. In contrast, only 22% of those aged 55 and over are likely to share how much they’ve spent on their holidays.
Popular souvenirs among Brits include memorabilia from iconic landmarks (27%), local handicrafts or artwork (24%), specialty foods or beverages (20%), postcards or stamps (17%), traditional clothing and accessories (16%), and unique vintage items from flea markets or street vendors (16%).
Unplanned holiday adventures
HSBC UK’s survey highlights the charm of unplanned adventures. A notable 36% of UK respondents have taken an impromptu day trip to a nearby town or attraction, with this trend most popular among those aged 55 and over (41%). Among these spontaneous travellers, 48% discovered new sights they wouldn’t have seen otherwise, and 38% felt it made their trip more exciting.
Unexpected holiday fees abroad
Travelling abroad can occasionally come with unexpected costs, as 31% of Brits admitted to encountering unexpected fees on their holidays, according to HSBC UK’s survey. Among these, 41% were charged for using their card abroad, and another 41% faced currency conversion fees
Gen Z travellers (16-24 year-olds) were the most likely to be caught out by these unexpected expenses, with 52% facing such fees. In contrast, only 15% of those aged 55 and over reported similar experiences.
HSBC UK’s Global Money account offers a solution by allowing customers to spend abroad with competitive live exchange rates and no HSBC fees. 2
HSBC UK’s Head of Everyday Banking, Pella Frost, said: “We all like to splash out on holiday but splurge regret can cast a shadow over the whole experience.
“Over a third of holidaymakers get caught out by unexpected fees making a holiday splurge that little bit more costly.
“With no HSBC fees on card spend or ATM withdrawals abroad, Global Money helps customers avoid unexpected costs and makes it easy to plan and stick to a holiday budget.
“Customers can manage their spending easily through the app so they can forget about fees and focus on fun with their families or friends.”
1 All figures, unless otherwise stated, are from research conducted by Censuswide on behalf of HSBC UK. Total sample size was 2002 adults. Fieldwork was undertaken between 04 – 07June 2024. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 16+).
