Nearly two-thirds of UK consumers (64%) will go on holiday this summer, according to new data from KPMG, with 41% poised to holiday in the UK with 29% planning to head abroad.
A third of consumers, meanwhile, told KPMG their holidays will be more expensive due to a surge in travel prices, while 14% of respondents to the poll of 3,000 consumers said they had been forced to rein in their travel plans due to household bills pressure.
In total, more than a third of respondents (36%) said they would not be taking a summer holiday.
According to KPMG head of consumer markets, retail and leisure, Linda Ellet, the figures show consumers – where possible – are still prioritising their holidays.
“A higher price of travel is making it more expensive to take a summer holiday for many, and some consumers have had to scale back their plans due to that," said Ellet.
"But it’s clear that whether in the UK or abroad, many people want at least a temporary escape from the cost of living storm clouds,” she added.
The data coincides with data published by consultancy firm RSM UK, which show 68% of consumers will go on holiday within the next three months, with this number rising to 77% when considering families.
RSM UK head of hotels, travel and tourism, Chris Tate, said levels remained high due to the “hangover from lockdown travel restrictions" dating to the pandemic.
“This, despite high costs and rising interest rates, shows consumers are resistant to give up their summer getaways,” said Tate. “26% of respondents who are planning to take a holiday intend to reduce spending in other areas to save money for it.”
