Britons plan to spend £22 billion on holiday escapes in 2012

New research from Sainsbury's Travel Insurance suggests that in 2012, 28.9 million Brits plan to spend £22.1 billion on holiday escapes. On average those planning to book a holiday in 2012 say they will spend £765 on the cost of their holiday alone.

The research also reveals that budget savvy Brits are actively seeking ways to cut the cost with more than three quarters (78%) of those taking a holiday in 2012 saying they intend to cut costs and spend less than in previous years.

Of the 45% planning a foreign holiday; 13% plan to stay with family and friends abroad, 12% say they will book a self-catering break, 10% are looking at all-inclusive holidays, and 17% will stay in a hotel.

There appears to be a shift in the timing of when people will book their holiday, as just 6.8 million people planned to do this by the end of February 2012, compared to 13.4 million people in the same period last year. 23% plan to book holidays later in the year (between March and June) and 10% plan to book theirs between July and September, however a well-organised 16% of Britons said they've already booked a holiday for 2012.

David Barrett, Sainsbury's Travel Insurance Manager commented: "Our research suggests that even though a number of us may be aiming to stick to a strict budget next year, people are still finding a way to ensure they have a nice break - whether it's in the UK or abroad.

"It appears that more people will delay booking their holiday this year, presumably hoping to secure a better deal and the majority of us are aiming to reduce our spending money too. We would also encourage holidaymakers to carefully consider their travel money and travel insurance and shop around for the best value for money without forfeiting quality."

David added: "Good quality travel insurance will give you peace of mind that your possessions, holiday costs and healthcare needs are covered in the event of unexpected mishaps. Also, organising your travel money before you go means that you have one less thing to worry about, and are fully prepared when you reach your destination."

Britons are also looking to cut costs by holidaying closer to home or with family and friends, with more than two fifths (43%) saying that they will holiday in the UK in 2012.

Of those planning a holiday in the UK; 36% intend taking a self-catering holiday, 28% intend staying with family and friends, 28% plan a camping or caravanning holiday and 14% intend to take a driving holiday in this country. Some 39% intend to stay in a hotel in the UK.