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Egypt Holidays > Travel News > Brits using savings to pay for holidays
Brits using savings to pay for holidays | | 23rd August 2008 |
Brits are spending their savings to pay for their annual holidays, at the rate of £50 billion every year, according to a new report released by Abbey Travel.
The travel company learned through a survey conducted recently that slightly more than one-fourth of UK residents who responded said that they felt the best use of “excess” money was to spend it on a holiday.
Around £1,650, or the equivalent of 10 per cent of the average Briton's annual net income, is spent on annual holidays, adding up to a total expenditure nation-wide of £81 billion, Abbey reported.
Just under two-thirds of all respondents to the survey indicated that they use part of their savings to pay for their annual holidays - which adds up to approximately £50.4 billion of cash that had been put away for future use.
One-third of those surveyed by Abbey listed taking expensive holidays in their top three priorities.
In other recent research, a study by the Cater Allen private banking group learned that around £64 billion is spent by Brits annually on travel to such hotspots as Dubai and Rio de Janeiro. |
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