Brits spend a whopping £2.8 billion on holiday bits before they jet off

With schools broken up for summer, and the holiday season in full swing, families are gearing up to get away. Research from Asda Money has found that Brits spend a huge £2.8 billion on essentials before they go on holiday followed by a further £12 billion whilst they are away.

For many, the spending starts before they even leave the airport with holidaymakers forking out an average of £50 before they even get to their destination on essentials such as books, sun cream and medication.  A further quarter spend between £51 - £100, resulting in the UK spending a whopping £2.8 billion on pre holiday items.  For mums and dads, preparing for the annual family holiday is costly with 42% spending over £100 on necessities such as keeping their kids amused on the journey.

And the spending doesn’t stop there as after the cost of flights and accommodation, day to day spending hikes up the average holiday bill.  Spending the cash on items such as taxis, excursions, ice creams and drinks costs people an average of £218 meaning that Brits abroad fork out a massive £15 billion on holiday spending. The most expensive cost is meals out with holidaymakers spending more than £100 on these.

Kirsty Ward, Head of Asda Money said: ‘Holidaymakers are planning on spending a fortune on a much needed break this summer but on top of flights, accommodation, outings and more, they are spending billions of pounds in preparing and enjoying themselves once they hit the sunshine.   Mums and Dads need to make sure they are budgeting way ahead of their trip and to not over spend before and during as they could come back to a financial mess.’

“Although Brits are spending a lot of cash on holidays one thing they shouldn’t worry about is shopping around for the best rates on their travel money.  Our research has found that despite knowing they won’t get the most competitive rates a fifth of people continue to purchase their holiday money at the airport, last minute or at the ATM once they’re away.  At Asda we’re doing our bit to help out families hoping to get away this summer.  We’re offering £5 for £500 spent on Travel Money as well as our Asda Rate Guarantee at our travel money bureaus in store to make sure that holidaymakers get the most competitive rates so they can enjoy their holiday without worrying about hefty travel money charges. And now the new Asda Money credit card has no cash advance fees on Asda Travel Money when you buy currency online, over the phone or at any one of our in-store Travel Money Bureaux.  Here at Asda Money we are doing everything we can for families hoping to get away this summer.’’

Asda is currently offering the Asda Rate Guarantee – if you find a better rate at another bureau within a 5 mile radius of your Asda store, Asda will beat the rate.  Asda offers 0% commission on foreign currency and customers can now use the new Click and Collect service to order travel money online or over the phone for free in store collection.  Also holidaymakers can get £5 off every £500 spent on Travel Money. The more you spend the more you’ll save.

Make the most of your holiday with our Travel Money Summer Special. Visit one of our Travel Money bureaux for details.  Asda Travel Money can be purchased within selected stores or online.