Holidaymakers adapt travel plans to fit their budget
In a potential boost for holiday companies over three quarters (77 per cent) of holidaymakers believe they will take as much holiday in 2010 as last year, according to research by Post Office Travel Money. And for many travellers this won't even come at much of a price - with eight in ten adapting their travel plans to fit their budgets.
One of the key ways travellers are set to save money is via a new trend based on the travel agent technique of ‘switch-selling', which sees someone choosing an alternative destination which they hadn't previously considered to save themselves significant sums of money.
The Post Office's research reveals that growing numbers of holidaymakers are ‘switch-shopping' themselves by sacrificing their main destination choice, to ensure they still have their required number of days away on holiday. The Post Office found that almost half (47 per cent) of people plan to take at least one holiday of 10 to 20 days, and one in ten (13 per cent) plan to take an even longer holiday of three weeks or more, with many people willing to switch deal to a better value destination rather than shortening or cancelling their trip altogether.
By researching the best value destinations, financially-savvy travellers can make a saving as well as bag themselves an extra few days away, for example:
Travellers who switch from 10 days in the Maldives to two weeks in Thailand could pocket themselves a saving of £530 per person and an extra four days away.
Two weeks in Florida is over £60 cheaper per person than 10 days in Mexico, and gives holidaymakers an extra four nights and free car hire.
Even luxury holidays can still be done on a lower budget by switching destinations. By switching from two weeks at a five star hotel in Tenerife to one in Jamaica, travellers could save over £300 per person.
Holiday sacrifices
Looking at the other ways holidaymakers are set to cut costs, style is being substituted for budget with one in five (22 per cent) planning to fly on budget airlines and one in ten (11 per cent) staying in cheaper hotels. A further one in five (19 per cent) are willing to holiday at a less popular time of year and one fifth (19 per cent) will opt for a ‘staycation' in the UK, even though they would prefer to go abroad.
Sarah Munro, head of Post Office Travel Services, said: "Despite financial pressures it seems holidays are not something that people are willing to give up. Instead they are choosing to switch their first choice destination to one which allows them to cut costs and to allow for that two week break. Holidaymakers should of course research deals carefully and consider all factors before they book. The Post Office Holiday Cost Barometer has shown that places such as Thailand and Florida, in the US have favourable exchange rates and a lower cost of living, making them a more affordable option this summer."
"Although people are prepared to fly with budget airlines and stay in less expensive hotels, we're urging people not to cut corners on their travel essentials. Always make sure you exchange enough travel money before you go in order to get the best rates and don't scrimp on travel insurance. Cheaper policies are full of exclusions and your holiday could end up costing you a great deal more than you bargained for should the worst happen and you become ill or your holiday gets cancelled."
The Post Office is the UK's largest bureau de change provider offering over 70 different currencies with 0 per cent commission on all foreign currency and travellers' cheques. The Post Office also offers comprehensive, great value travel insurance, including single trip policies (no upper age limit and cover available for a maximum of 90 days) and annual multi-trip policies (age limit 74 years). A range of great value extras is also available, including extended baggage, excess waiver, golf cover, and additional cover for hazardous activities.