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Here at Expatriate Healthcare we love a new survey; so imagine our interest when we uncovered a new study on holiday spending money by prepaid card provider My Travel Cash.
The study looked closely at how we spend our money when we’re on holiday; and reveals some fascinating insights into how our spending differs. As it turns out, the amount of money you spend while abroad is likely to be affected both by your age and your sex. Furthermore, the destination you travel to can also impact your spending; with visitors to different countries prioritizing different purchases.
But let’s get to the nitty-gritty details and discuss the specific points that this new research reveals…
To start with, visitors to Spain, always a popular travel destination with Brits, are most likely to spend their holiday money on food. It seems that few of us can avoid the temptation of dining out while in Spain, with the average holiday-maker spending £33 per meal. Tapas, it seems, has a hold on the British population, with eating out being one of the biggest pleasures of life in Spain.
In contrast to this, visitors to the United States are more likely to spend their holiday money on consumer goods and gifts, rather than splashing out on expensive meals. With bargains to be had in the US, many people load up lower-priced branded clothing and suchlike, treating a visit to the US as an extended shopping trip.
This was also mirrored by visitors to Italy, who tend to spend more on designer fashion than on dining out.
Paris, however, is a whole different ballgame. Those holiday-makers visiting Paris are most likely to live the French dream, staying in 5 star hotels and dining in top-class (and expensive) restaurants. Less money is spent on souvenirs, and more on living the “high life” and enjoying the rich culture that Paris offers.
But it’s not just our eventual destination that affects our spending; where we’re coming from can also have an effect on how much we spend on holiday. The study reveals that Scottish tourists spend the most money on holiday, whilst the Welsh are far more frugal. The English come somewhere in between.
Unsurprisingly men were found to be far more relaxed about spending, with female holiday makers taking much better care of their budget, and on average spending far less.
Lastly My Travel Cash found that the biggest spenders while on holiday are aged between 20 and 29. As age goes up, so generally does the amount of spending we do while abroad.
This means that a male Scottish resident in their 20’s is likely to be the most extravagant spender of all when enjoying their summer holiday.
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Expatriate Group & Expatriate Healthcare are trading styles of Strategic Insurance Services Limited who is authorised and regulated by the Financial Conduct Authority (FCA). FCA Firm reference Number is 307133. Strategic Insurance Services Limited is authorised to carry on Regulated Activities in accordance with the permissions granted by the FCA under PART IV of the Financial Services and Markets ACT 2000.