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News: Cash-crazy Brits 'blazing a trail'

Fri, 18 Jan 08

British holidaymakers spend £34.4 billion on annual trips abroad*, with £23.3 billion spent while overseas, according to findings by Alliance & Leicester Personal Loans....

Visiting distant destinations like Australia costs a family of four an average of £8,120, for a six-week holiday of a lifetime. But although long-haul holidays may be where we spend the most per visit, trips closer to home may make less economic sense for some savvy-travellers, with Iceland topping the poll of countries where we spend the most per day.

Out of the 10 destinations where we spend the most per day, six are in Europe, suggesting that taking short Continental breaks may actually be more costly than they appear.

Countries where we spend the most per visit: 

Country

Spend per person

Spend per family of 4

Average length of stay

Australia

£2,030

£8,120

45 days

New Zealand

£2,004

£8,016

41 days

Central & South America

£1,193

£4,772

28 days

Thailand

£1,177

£4,708

22 days

Asia

£1,167

£4,667

20 days

South Africa

£1,107

£4,428

21 days

China

£1,105

£4,420

20 days

Canada

£1,046

£4,184

15 days

Pakistan

£948

£3,792

32 days

USA

£945

£3,780

14 days

Countries where we spend the most per person per day:

Country

Spend per day

Average length of stay

Iceland

£118

6 days

Estonia

£102

5 days

United Arab Emirates

£95

9 days

Latvia

£92

3 days

Finland

£91

5 days

Hungary

£76

6 days

Belgium

£74

3 days

Barbados

£71

13 days

USA

£70

14 days

Canada

£69

15 days

The findings also reveal the average cost of a holiday abroad was £514 per person – or £2,056 for a family of four. Over a lifetime** this amounts to a whopping £41,634 for an individual. Clearly the cost of funding a dream holiday abroad could be daunting, but a low-rate loan gives cash-savvy travellers cost-effective options of paying for it in manageable monthly sums – without piling on high levels of interest.

Richard Al-Dabbagh, Alliance & Leicester Personal Loans Manager, said: “Holidays are meant to be a time of enjoyment but often the cost of going abroad, especially for a family, can be quite substantial. Rather than worry about how to finance a holiday or shelving plans for a well earned break, British holidaymakers can opt for a personal loan that allows them the convenience of paying in manageable monthly repayments. This can easily be budgeted for over a time period to suit and there’s the comfort of knowing that whatever happens to interest rates, the payments won’t change.” 

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