Nationwide said holidays, concerts and wellness experiences were emerging as cheaper ways for people to treat themselves rather than going out and buying a car or renovating their homes.

Data from a survey by Nationwide of 1,200 of its customers reveals 2026 "will be a year for leisure and travel spending" despite more than half (54%) having concerns about the rising cost of living.

Four in 10 (41%) respondents said they plan to spend on longer holidays, as well as shorter breaks, festivals, concerts, experiences and wellness, to treat themselves "without being financially overwhelmed".

Nationwide said its research showed "travel remains the top priority for 2026 spending", with more than a third of respondents planning to prioritise booking trips.

It estimates Brits plan to spend an average of £5,517 a year on "long trips" – those lasting a week or more, or those to a long-haul destination – and £2,348 on "short trips".

Nearly a third of respondents (31%) said they would make savings by cutting back on eating out; 26%, meanwhile, said they would spend less on fashion and clothing, and 23% said they would spend less on treats like coffees, matcha and pastries.

Nationwide's service, operations and performance director, Mark Nalder, said: “Undoubtedly, some consumers are putting off bigger purchases and replacing them with manageable luxuries due to financial worries or constraints.

"There is a degree of practicality to this as it balances enjoyment with caution. Many consumers still value making up for lost time since the pandemic, so leisure and travel remain high on peoples’ priority lists, even if budgets are squeezed."