Two thirds of UK holidaymakers overspend while on an overseas trip despite looking out for valuable destinations when booking.
According to a new Post Office Travel Money report, the average budget for a holiday is GBP552 but many end up spending 44%, or GBP242, more.
Holidaymakers appear to relax into a destination when they know or think it is already good value, with many opting for locations they know have been good value on previous visits.
Turkey was rated as good value by 87% of those who have visited before, while Spain and Greece both scored 83% and Portugal came in at 82%.
Dubai has made great strides to become and market its affordability with positive results but only 52% told the Post Office they think the destination is good value for money after visiting and 62% of those that haven’t visited think the emirate is bad value. France and Italy were also at the lower end of the table with a 58% rating for those that had already visited.
However perception was not always met with reality, raising the question of what the cheaper costs might materialise into. Eight five percent of those that have not visited Bulgaria yet think the country would be good value for money but only 52% of those who had visited said it was value for money. Furthermore 10% said they would not return to Bulgaria as it ended up more expensive than expected.
It is not known what quality or level of holiday, attractions and restaurants those surveyed had visited while in the destination. The research was conducted by Omnibus in April among 2,085 adults of whom 1.833 had travelled overseas.
“Our new research shows the extent to which value is a determining factor in destination choice. Holidaymakers can best arm themselves with information that will help them to make informed decisions about value by monitoring exchange rates to see where sterling has strengthened most this year,” said Andrew Brown from Post Office Travel Money.
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