However, Nationwide warned 42% were cutting the cost of this year’s break. It found 38% were staying in the UK rather than going abroad, with 28% switching to half-board rather than all-inclusive to save money. Another 26% said they were opting for short-haul over long haul, while 22% were reducing the number of excursions.
Nationwide’s Spending Report is a monthly analysis of nearly 241 million debit card, credit card and Direct Debit transactions. It revealed around £8.84 billion was spent overall in May, up 5% year on year, but said this was partly “a result of rising prices”.
