Are you heading abroad this year, or will you to save a bit of money and take a holiday right here in Blighty?
More than three quarters (76%) of Brits are planning a getaway this year, but one in four (25%) will take their main holiday in the UK.
Research by Halifax shows that 38% choose a ‘staycation’ over a foreign holiday to save money.
Nearly a third (30%) want to see more of the UK and 22% feel they will be safer here than abroad.
Halifax says the popularity of UK holidays is increasing, with 3% more Brits taking their main holiday here than last year.
More than a third (36%) of Brits prefer to splash out on where they stay compared to travel (13%) or the holiday location (15%).
Almost one in five (19%) would prioritise ‘spending money’ including entertainment and food, an increase of 6% on last year.
Europe continues to be a popular holiday destination with 31% choosing the continent for their main holiday this year.
Darren Tong, head of current accounts at Halifax, said: “While saving money remains the main reason holidaymakers choose to stay in the UK, for those venturing to sunnier climes, attitudes to spending money abroad remain more traditional.
“Despite cash being on the decline for spending at home, more than half of Brits going abroad for their main holiday will use currency bought in advance.”
More than half (53%) of Brits going on a foreign holiday buy their currency in advance, while the number of people using travellers cheques has fallen to just 2%.
Having cash when you head off on holiday is all well and good, but what happens to those spare Euros when you get home?
Bilgo reported earlier this year that Brits could be missing out on a huge stash of cash, with as much as £390m in unchanged foreign currencies tucked away in jars, drawers and down the back of the sofa.
78% of those with foreign currency reckon it’s been sitting there for longer than 12 months and nearly 10% think they still have notes and coins from more than five years ago.