A new consumer confidence index has shown an increased appetite for overseas holidays in the next 12 months as the economy picks up.
The Holiday Confidence Index from First Rate Exchange Services, published with the Institute of Travel & Tourism, University of Wolverhampton and YouGov, found two fifths of those planning to travel abroad on holiday have already booked.
More than half of consumers said they plan to travel abroad in the coming year and more than half of these will take more than one trip overseas, although the overall level of intention to travel overseas has dipped.
The picture may not be the same in resort, where consumers are still looking to be stricter with what they spend but plan to spend around the same as in the last year.
This will come to the benefit of travel agents, which was the most favourable booking channel for those booking a package or all-inclusive holiday.
The youth and over 55s market are most confident about booking holidays, with others claiming they don’t have the time or money to do so or as often as they’d like.
“The new Holiday Confidence Index reveals a growing stability for the overseas holiday market. Admittedly, there has been a small fall in the numbers who are definitely planning on taking a holiday abroad, but this is tempered by fewer negative comments about intention compared with six months ago,” said Alistair Rennie, head of business decisions at First Rate. “Given the relative optimism about economic recovery expressed by respondents, there is good reason to be cautiously positive about the outlook for the coming year.”
The report is the first to be launched and will now be issued three times a year, with data collected from more than 5,000 adults.