More than two-thirds of those questioned (68%) by Travel Republic stated they still plan to holiday in the foreseeable future, even if they spend a little less when they do, with only 10% stating they don’t plan to travel at all due to concerns about household bills.

Nearly a third (30%) of the OTA’s customers said they don’t expect rises in the cost of living to impact their holidays plans, with just over that number (36%) stating they’ll still travel but plan to spend less than they have previously done so.

Being able to pay in monthly instalments was identified as an attractive option for combatting costs by 59% of those surveyed followed by choosing their holiday based on the lowest price (48%).
  
Long haul destinations like the Caribbean (46%), the Maldives (34%) and the Seychelles (27%) topped the list for most desirable destinations.

Antonio Fellino, Travel Republic’s managing director, said: "This research tells us that the appetite for holidays is strong, and that consumers are still prioritising taking a well-deserved holiday somewhere exotic in the foreseeable future, despite the rising cost of living. 
 
"As a nation our mental health and wellbeing has been truly tested over the last few years by the pandemic and now, with the economic situation."