Aspirational Brits go long haul

Britons are radically changing the way they go on holiday, according to new research from Cater Allen Private Bank. Traditionally the majority of Britons have holidayed in Europe, with nine of the top ten overseas holiday destinations on the continent. However, new research shows a shift in the holiday destinations Britons aspire to, with only 26 per cent of people wishing to holiday in Europe, and 63 per cent wishing to go to long haul destinations.

Favoured holiday destination - Percentage
Europe 26 per cent
Australasia 21 per cent
North America 17 per cent
Asia 9 per cent
South America 8 per cent
Africa 5 per cent
Antarctica 3 per cent
Don't want or don't know 12 per cent

Britons also appear to be increasingly adventurous or alternative in their choices of holiday. 26 per cent wish to explore somewhere off the beaten track, while 22 per cent would holiday in the mountains, 10 per cent on safari, 11 per cent in the rainforest and 10 per cent on activity holidays.

Furthermore, it appears Britons are determined to eschew the traditional tourist destinations in the hope of experiencing the local culture and adventure. 69 per cent of Britons admitted to not liking crowds of tourists and 51 per cent prefer unspoilt destinations over tourist hotspots.

55 per cent cite immersing themselves in local culture as important, while 20 per cent want to feel they are on an adventure. Six per cent want the bragging rights of having been the first person they know to visit a destination.

Indeed, it appears that holidays are increasingly a way of "Keeping up with the Jones's", with 41 per cent of Britons admitting that they intend to share their holiday snaps with their work colleagues.

Sally Ann Watts, Head of Marketing at Cater Allen, said: "This research shows that Britons are moving away from traditional holidays and becoming aspirational in their holiday choices. But the move to long haul, adventure style holidays can lead to potentially higher costs such as fuel surcharges and other additional costs.

"With this in mind it is important to ensure that you are not paying unnecessary charges when you are using your card abroad. Cater Allen offers its international clients a multi-currency account which allows charge free transactions in the currency of transaction, and the potential to continue earning interest on your account."

Cater Allen's Private Bank accounts offer: -

A choice of currency accounts in Euro, Dollar or Sterling
No charge on account transfers between a client's Cater Allen accounts
No charge on same currency cash transactions
No charge on same currency point of sale transactions
Multi-currency account

Cater Allen allows customers to hold currency accounts in Euros, Dollars or Sterling - with a minimum balance of just £5,000, €10,000 or $10,000. Transfers between the accounts do not incur any transaction fees.

Unlike most traditional private banks, Cater Allen offers more ‘inclusive' banking that requires a minimum cash deposit of just £5,000, but offers access to the superior service associated with a private bank.

For more information, visit caterallen.co.uk