Call for an instant quote
0345 90 80 161
Open Mon to Fri 09:00 - 17:30 | Sat 09:00 - 16:00 (GMT)
04 November 2013 09:22
The overseas holiday market is showing signs of improvement
The holiday market has been buoyed on the back of rising consumer confidence, a new survey suggests.
In March this year, 13% believed the economy was about to improve, while today that figure stands at 26%, polls by foreign currency company First Rate Exchange Services show.
At the same time, the number of those who thought the economy would not get better has dropped from more than half to 30%.
A survey of 5,194 people revealed that 40% of those with intentions to get away had now committed to a holiday with a booking, and around a fifth have booked a second trip. This proportion of people would be well advised to look into
travel insurance to cover any unexpected mishaps before or during their break.
More than 50% of the would-be holidaymakers expect to travel overseas next year, with a fifth of bookings made for the summer period.
The data, conducted by First Rate in association with the Institute of Travel & Tourism, the University of Wolverhampton and YouGov, showed just 14% are planning to cut their holidays abroad, compared with 18% in March.
First Rate Exchange Services business decisions head Alistair Rennie said: "The new index reveals a growing stability for the overseas holiday market."
However, households still remain cautious, with more than half of those questioned admitting to not wanting their holiday spend to go above that of 2012.
Mr Rennie added: "Given the relative optimism about economic recovery expressed by respondents, there is good reason to be cautiously positive about the outlook for the coming year."
Nine in 10 have settled on a destination, with the eurozone proving a popular choice, and of those not planning a getaway; 13% blame a lack of time, while 74% said that a holiday comes lower down in their financial priorities.
22 February 2017
Hundreds of thousands of people with a potentially fatal genetic blood condition have yet to be diagnosed with the condition, a charity is warning.
21 February 2017
New technology to provide detailed scans of patients could improve the recovery of people suffering with liver cancer, scientists have said.
18 February 2017
At least 10 Britons have been injured in a speedboat accident off the icy coast of Norway.
17 February 2017
Comedian David Baddiel is trying to highlight the "epidemic" of dementia as a killer of older people in a new documentary.
16 February 2017
The public has spoken and the world's favourite cruises are being honoured by a top cruise review site.
15 February 2017
The collaborative #SkiSafe campaign has been relaunched in a bid to raise safety awareness among winter sports enthusiasts.
14 February 2017
A new "age defying" hormone could offer a breakthrough in preventing kidney and heart disease in people who suffer from diabetes.
11 February 2017
Patients needing new life-saving medication could have to wait two years after the UK leaves the EU, experts are warning.
10 February 2017
Families looking to take a cheap break in the upcoming half term are often sorely disappointed, however new research suggests Cyprus is the best destination for a well-priced trip.
09 February 2017
Europe remains the world's number one region as a travel destination - but tourism growth is slowing down, a travel industry report has said.
08 February 2017
A terminal cancer patient is determined to fulfil his dream of climbing Mount Everest, despite having just months to live.
07 February 2017
One third of holidaying families will opt for a British break this year, new research suggests.