Holidaymakers ‘trimming budgets this summer amid cost-of-living concerns’

Holidaymakers are trimming their budgets this summer and looking for ways to make their money stretch further amid economic and political uncertainty and worries about rising living costs, research suggests.

Four-fifths (83%) of people aim to cut back on their travel spending this summer, research for home-swapping platform Kindred found.

One in eight (12%) said they have managed to cut some of their holiday costs so far.

Among those who have saved money, a fifth (22%) were worried about ongoing political or economic uncertainty, two-fifths (40%) were concerned about the increased cost of living, a third (36%) were worried about rising travel costs and three in 10 (30%) were motivated to save on holidays by having less disposable income.

Meanwhile, one in seven (14%) said they would be willing to skip going on holiday altogether.

Nearly four in ten (39%) are looking for more cost-effective accommodation while others are staying with friends or family (30%) and just over a quarter (26%) are opting for staycations.

The research also found that frustrations with hotels expressed by some holidaymakers included the cost of “extras”, unreliable wifi and the cost of dining.

Nearly six in ten (59%) people said they are making changes to how they travel this summer, according to the survey carried out by OnePoll among 2,000 people across the UK in April and May.

More than a quarter (27%) are seeking more cost-effective trips, 16% are looking for “ways to live like a local”, and 16% are aiming to travel in a sustainable way. One in six (15%) are looking to make more frequent trips by using affordable accommodation options.

Justine Palefsky, CEO and co-founder at Kindred, said: “We’re seeing a clear shift toward more thoughtful, value-driven travel that aligns with both budget and beliefs.

“Travellers still want to explore the world but they’re seeking options that offer greater connection, flexibility and authenticity.”