The views of 2,000 consumers interviewed in December also showed most were happy with dynamic pricing when it came to buying travel.
In its 2024 Retail and Leisure Outlook report, NatWest said holiday expenditure will come at the expense of takeaways, electronics, furniture and other sectors that thrived during the pandemic, with 17% of consumers saying they will increase spend on holidays and 13% on hotels.
The report predicted Gen Z (those under 27) and millennials (aged 28-43) were “most likely” to cut travel spend due to economic pressures.
