An extra £8.24 billion could be injected into the staycation market this year as holidaymakers decide not to go overseas because of the pandemic and government restrictions.
A report on the UK domestic market, published by Parkdean Resorts, has found that while the domestic market will benefit from this switch in consumer behaviour, it will cost the outbound market an estimated £10.4 billion
The survey of more than 2,000 UK residents revealed they were planning to spend an average of £869 on their staycation this year, with 44% of people saying that a domestic break was more likely to go ahead than a trip abroad.
It also found that 19% of holidaymakers had opted to cancel their international travel plans due to the pandemic.
Catherine Lynn, Parkdean’s chief customer officer, said: “We’re seeing a big upturn in the staycation market at the moment, with even greater numbers appearing for summer 2021 as people look to make up for lost time.”