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​The Holiday Confidence Index 2018 – Key Findings

The Holiday Confidence Index is an annual report commissioned by First Rate in association with the Institute of Travel & Tourism and YouGov. Based on an online survey of 5,114 UK consumers, the report measures holiday intention, planned frequency, holiday duration and associated spending for the next 12 month period.

Research from the latest Holiday Confidence Index (HCI) reveals that despite less than one-in-five respondents (19%) expressing confidence in the UK’s economic situation, demand for holidays is still surprisingly high. The study reveals that there has been a one-percent increase in the number of consumers planning to travel in the next calendar year (55%) and 46% have already booked their trip, a two-percent rise from last year. The fact that The Holiday Intention Index has risen to its highest level in four years is significant and according to the report indicates “a resilience that might have been expected to erode in the face of volatile exchange rates and uncertainty about the impact of BREXIT”. Attitudes towards travel remain very positive, as there “has been a notable rise in the numbers who consider those overseas holidays good value – up from 43% last year to 47%”. 

It also found an increase in the number of consumers planning longer trips of eight or more nights, generating a one-point increase in the Holiday Duration Index. Longer trips were most popular with those aged 55+ as 18% of the 55+ age group favoured travelling abroad for 15 nights or more compared with only 6% of the younger 25-34 year-olds. 

Although holidaymakers remain committed to travelling, participants showed a resistance to spending more money. The study revealed a “reluctance by holidaymakers to take more travel cash away with them or to spend more once they arrive in their resort”, causing a point decline in both The Travel Money Index and the At Destination Spend. The greatest fall has been in the Cost of Booking Index, which has fallen two points to 39, as consumers were less inclined to spend more on booking travel and accommodation. 

Published: Tuesday, November 06, 2018

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