Two-thirds of holidaymakers with a budget ‘bust it on most recent trip abroad’

Two-thirds (67%) of holidaymakers who set a budget for their most recent trip abroad bust it, overspending by more than £150 on average, a survey has found.

The typical overspend was put at around £155, according to the Post Office Travel Money holiday spending report.

Restaurant meals, shop and supermarket-bought food and drinks, and sightseeing trips were among the outgoings blamed for overspending.

Nearly four-fifths (78%) of people said they set a budget on their most recent overseas trip.

Families were particularly likely to have overspent, the survey indicated.

More than three-quarters (76%) of families set a budget for their last holiday but 73% overspent, by around £312 on average.

Back in 2019, before the coronavirus pandemic and the cost-of-living squeeze, the typical overspend by families was £159.

Around two-thirds (68%) of families plan to travel abroad this year.

When holidaymakers who had previously visited destinations abroad were asked which they rated as good value, Greece came top, just pipping Spain and Portugal.

Laura Plunkett, head of travel money at the Post Office, said: “The evidence provided by holidaymakers who have travelled abroad in recent years makes it clear that most people set inadequate budgets and end up overspending as a result.

“Given the rising concerns about resort costs, we urge holidaymakers to think back to the overall cost of their last holiday and set a budget based on that experience.”

More than 2,000 people from the UK were surveyed by Yonder in April for the research.