Travel insurance: UK holidaymakers exceed travel budgets

Tuesday, 24 November 2009

Holidaymakers who compare cheap travel insurance to get the cheapest deal allow themselves to spend more when they are abroad, new research has revealed.

A study for overseas payment services provider Travelex has shown that, despite the credit crunch, 23 per cent of UK holidaymakers travelling abroad this summer exceeded their holiday budgets.

In fact, while the majority of those surveyed (21 per cent) only spent an extra £150 to £200, eight per cent spent an additional £500 or more.

The YouGov research commissioned by Travelex, forming part of its quarterly industry monitor, also reveals some interesting differences in holiday spending between different groups across the UK.

Holidaymakers between the ages of 18 and 24 were the biggest offenders when it came to overspending, with almost a third (32 per cent) of those surveyed exceeding their trip budget.

The results also reveal that those aged 55 and over were most likely to return home with money, with 21 per cent spending under budget.

And 12 per cent of men overspent by £500 or more, compared to just three per cent of women.

Posted by Rick Malone

© Adfero Ltd

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