Sky-high air fares and peak holiday cost increases have left families cutting back to make trips abroad a reality, research has revealed.
A survey of 1,000 parents with children up to the age of 16 who holiday abroad revealed that 66% believe price hikes have made it more challenging to get away. This has led to 69% having to be inventive with their finances to make overseas trips feasible due to rising air fares.
Top tips for stretching budgets included booking flights and accommodation well in advance, packing snacks and essentials instead of buying them upon arrival, and using comparison sites to hunt for the best deals.
Research commissioned by travel insurance provider Staysure showed that families have had to slash their holiday budgets by an average of £941 in recent years, with the cost of a holiday now just over £2,800. As a result, 44% are now more likely to opt for a staycation than a trip abroad.
However, with the average family having spent nearly £300 to keep kids entertained during school holidays, even UK day trips can still put a real strain on budgets, with 57% looking for discounted tickets for theme parks and attractions.
It’s not just young families that are struggling to afford a trip abroad as 60% of over 65s also say a staycation is on the cards due to increased prices. While 75 % of this age group also look for discounted day trip and attraction tickets when entertaining the grandchildren.
A spokesperson for Staysure, which has launched a rewards scheme offering customers access to 1.4 million worldwide hotel discounts and reduced entry fees to major UK attractions for 12 months when they purchase a policy, said: “Families long for holidays abroad, and need to entertain the kids with days out but rising costs are just squeezing what’s affordable for all generations.
“With children now back in school, thoughts will naturally turn to the October half term – and how families will once again afford to keep the kids busy often relying on grandparents to help out.
“Whether it’s a trip away or days out in the UK, the desire for cost savings will only increase as people look for more creative ways to maximise budgets – it’s a tricky juggling act.”
With getaway expenses rocketing, it merely compounds the frustration of having to fork out extra to guarantee seats that keep relatives and youngsters together on aircraft, with those surveyed expressing irritation (41%) and exasperation (32%).
Meanwhile, 44% of over 65s went as far as to say they feel livid. And 40% believe it’s unjust that a youngster’s spot on a plane can cost nearly as much as an adult fare.
Of the 66% who have been forced to slash holiday expenses, it has meant compromising on dining out (32%), slashing their total spending allowance (31%), and forgoing accommodation improvements or additional perks (28%). A further 28% have also had to reduce spending on souvenirs and shopping whilst abroad to maintain strict budgets.
Of all respondents surveyed, 71% have previously enjoyed an all-inclusive break, but 75% are now more inclined to choose self-catering options due to unaffordable price increases during busy periods.
Nearly a third (30%) have removed their child from school to secure cheaper holidays, with 29% of those doing so regularly, for an average of five days each time.
And 55% believe they could be taking breaks exclusively within the UK moving forward due to rising expenses according to the OnePoll.com research.
A spokesperson from Staysure, which is providing a 20% discount on policies in September, said: “With costs creeping up at every turn it’s no wonder parents are feeling the pinch and making cutbacks to afford a family holiday.
“Many will already be counting the cost of having spent plenty of cash keeping their kids entertained over the past six weeks.
“With expensive day trips, cinema outings, excursions, and visits to theme parks all mounting up, these are areas where parents could make savings.”
TOP 10 WAYS PARENTS LOOK TO MAKE THEIR BUDGET GO FURTHER FOR HOLIDAYS ABROAD.
- Book flights and accommodation well in advance.
- Pack snacks and essentials to avoid buying on the go.
- Use comparison sites for best deals.
- Plan free or low-cost activities.
- Use cashback and reward schemes.
- Set a daily spending limit
- Whip up your own meals rather than dining out.
- Value experiences over keepsakes.
- Jet off during quieter seasons.
- Take advantage of loyalty points or travel vouchers.