Holidaymakers ‘typically spend over £3,000 annually on trips away’
Two-fifths of holidaymakers now take three or more “mini-breaks” or longer holidays every year, spending more than £3,000 annually on average, a survey has found.
With many people planning a getaway over Easter, research from Co-op Insurance found 39% of people across the UK go away at least three times a year.
The average holidaymaker spends £3,216 on holidays and short breaks every year, with the majority of people (63%) paying with savings.
More than a quarter (27%) of 25 to 34-year-olds say they take five or more breaks every year.
Millennials are also more likely to spend more on their annual holidays – as those aged between 25 and 34 fork out an average of £3,729 a year on going away – over £500 more than the average annual spend, the survey of more than 2,000 people found.
The research also found that 44% of holidaymakers do not take out travel insurance for their trip, with a quarter (23%) saying they do not need insurance because they are “not going away for that long”.
The Co-op warned that, as with longer holidays, not having insurance which covers shorter breaks potentially leaves people open to the risk of not being covered if they have to cancel due to illness or have items they take on their trip stolen.
Colin Butler, head of travel insurance at Co-op, said an annual policy could be a way of making sure travellers are covered every time they go away.
He said: “As the research shows, people are taking multiple short breaks a year, but, worryingly, many don’t see the need to protect these getaways.”