Hey big spender!
British holidaymakers planning to splash out

Date: June 04, 2009

• People in Scotland lead the way in big holiday budgets
• Londoners and those in the South take the least amount of cash abroad
• Men are bigger holiday spenders than women
• Travellers over the age of 35 take most spending money

Despite the economic climate, British holidaymakers are planning to take lots of money abroad this year, but there are stark differences according to region, sex and age.

The latest YouGov research commissioned by Travelex Outsourcing reveals that across the country, the average holidaymaker is planning to spend £523.20 during a week’s holiday. Those from Scotland are leading the way in big spending plans, taking on average £606, compared to holidaymakers in the South, with an average weekly budget of £456.30, followed closely by London, £498.50.

The Scots are also most likely to take more than £800, with 17 per cent agreeing with this, compared to 8 per cent in the South and 9 per cent in London.

This latest research also shows a difference between the sexes when it comes to holiday spending habits, with men taking more cash away than their female counterparts. The average weekly spend for males when abroad this year is £573.20, compared to an average £471.90 for women. In fact, 15 per cent of men are planning to take away more than £800 to spend in a week, with just 6 per cent of women agreeing that this was the case.

There is almost £100 difference between social codes, with those falling into the ABC1 bracket taking £409.50 compared to C2DE planning to spend £581.80 for a week’s holiday.

In terms of age groups, those aged between 35 and 44 are most likely to take more money abroad, planning to spend an average of £605 in a week, although it is the holidaymakers aged between 45 and 54 that are most likely to take more than £800 (17%). The younger respondents, aged between 18 and 24, are on average taking £386.40.

Steve O’Donovan, regional divisional director for Travelex Outsourcing, said: “Lots of holiday makers are leaving booking until the last minute in order to snap up a bargain, giving them more cash to spend while abroad. However, it is important to ensure that holiday funds are carried in the most appropriate form to make the most of every penny, cent, or euro and avoid hidden charges inherent in some forms of travel money. Prepaid cards such as the Cash Passport are increasingly popular offering the convenience of a bank card without the security risks and are allowing more travellers to enjoy their holidays to the full”.

Ends

Travelex Outsourcing
Travelex is the world's foreign exchange and international payments specialist. Operating through subsidiaries and branches in five regions: the United Kingdom; Europe, Middle East and Africa (EMEA); Americas and Asia Pacific.

As one of the world's leading providers of outsourced travel money to banks, travel agencies and other retailers it provides products including its prepaid travel card Cash Passport to over three million channel customers annually. Through its world-leading automation Travelex offers consumers a full range of delivery channel options including telephone and web-based ordering.

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,105 adults. Fieldwork was undertaken between 5th and 7th June 2009. The survey was carried out online. The figures have been weighted and are representative of all UK adults (aged 18+)

www.travelex.com | www.cashpassport.com

For more information, please contact the Travelex Outsourcing press office:

Rebecca Maund / Becky Lamont
0207 2556400 / 07989 230737
rmaund@golleyslater.co.uk/ rlamont@golleyslater.co.uk