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More than a fifth of Brits planning Jubilee holiday, says Barclaycard

Michael Brown

Content Writer
Published: 10/05/2022

Travel agent and airline spending are at their highest since the beginning of the COVID-19 pandemic.

Just over one in five Brits are planning on taking a holiday during the upcoming Queen’s Jubilee weekend, according to Barclaycard’s latest Consumer Spending Index. Of this number, 84% of respondents are planning a trip abroad.

“While concerns around rising household bills may continue to hamper spending on non-essential items, the upcoming Platinum Jubilee Weekend and summer months should provide opportunities for Brits to spend on celebrations and make the most of warmer weather,” said José Carvalho, Head of Consumer Products at Barclaycard.

In addition, travel agent and airline spending saw their biggest monthly expenditure since the onset of the COVID-19 pandemic in 2020.

Despite this increase, compared to April of 2019, travel agent spending in the same month this year was down 3.5%, while airline spending was down 9.9%.

“The improvements seen by airlines and travel agents are particularly positive, and hopefully point to a recovery in spending on international travel later this year,” said Carvalho.

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Should I use a loan to fund my holiday break?

Matt Tristram, of Loans Warehouse, spoke to Moneyfacts about the advantages of using a “holiday loan” to finance your getaway.

With the long Easter weekend fast approaching, and summer on the horizon, many of you are probably thinking of taking a city break.

However, with the cost of living showing no signs of slowing down, financing this holiday could become complex for some families. This is why some are considering a personal loan, or “holiday loan”, to help finance their getaway trip.

Below we have discussed what you should know if you are considering a holiday loan.

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Ease the cost of a trip abroad by avoiding card fees

As the Easter Bank Holiday approaches, holidaymakers who are planning to take a trip to Europe may also want to plan how they are going to spend their cash abroad. Using a typical credit card or debit card may be convenient but consumers could be wasting their money on fees. The latest analysis from Moneyfacts reveals the best debit and credit cards available to avoid any surprise charges.

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What you need to know before travelling abroad this autumn

The removal of the amber travel list, along with the reduction of the number of PCR tests fully vaccinated adults need to take while travelling overseas, is helping to boost the autumn half term tourist season. There are reports this week that some travellers who have received chargeback refunds from Ryanair flights are not being allowed to fly with the airline unless they hand back their refunds. We look at what consumers’ travel and credit card rights are and how to prepare for an autumn half term trip.

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Choose the right card to reduce travel costs

Holidaymakers looking to travel abroad this year will likely have had a far more stressful, and expensive, trip than normal. Trying to avoid amber and red list destinations, as well as having to pay out for Covid tests and, for some, expensive quarantine hotels have radically changed the holiday season this summer.

Even those who are delaying their next overseas trip to 2022 may find that prices increase as the travel industry tries to recoup some of its losses during the pandemic. As a result, keeping the cost down on foreign holidays is likely to become more important for the foreseeable future.

One way consumers can help to reduce their travel costs is by using a debit or credit card that does not charge a fee when used overseas as foreign usage fees can quickly mount up when the card is used frequently on holiday. For example, a typical debit card charges £11.88* when consumers withdraw £250 in cash abroad, while some credit cards can charge £14.95** before interest is applied.

Meanwhile, those using a debit card to make purchases may find that spending just £50 results in a charge of £1.38* and a credit card can charge £1.50** on a £50 purchase.

Clearly, holidaymakers should be aware of the charges or fees they will incur when using their cards abroad and switching to a bank account or taking out a credit card that charges less when used abroad to help reduce costs.

“Switching a bank account is simple and using the Current Account Switcher Service, customers can move their account within seven working days,” explained Rachel Springall, finance expert at Moneyfacts.co.uk. “If consumers plan to travel more frequently in the months to come, either for work or leisure, choosing a current account that will not charge for using their debit card abroad could be a wise choice. Starling Bank, Metro Bank and Virgin Money all offer fee-free current accounts which do not charge in Europe for using a debit card, either for a cash withdrawal or retail transaction. However, a typical debit card charges £11.88 when consumers withdraw £250 in cash abroad and £1.38 for an in-store purchase of £50.

“Consumers may prefer to use a credit card for spending abroad, which is understandable as they can easily be cancelled if lost or stolen and spenders are protected under Section 75 of the Consumer Credit Act on purchases between £100 and £30,000 if a service or goods are not provided or damaged. Carrying around cash might be convenient, but it is clear to see how quickly a holiday can become a disaster should someone’s hard-earned cash be lost or stolen and getting cash last minute at an airport is unwise due to poorer exchange rates.

“Holidaymakers may be concerned about the cost of their trip as it is expected to rise. Saving money on card usage fees is, therefore, a sensible thing to do and consumers can easily do this by bringing along a cost-effective credit or debit card or even consider a prepaid card. Planning an itinerary on what to do whilst abroad may be routine but so should be setting a budget in light of how the Coronavirus pandemic has impacted the cost of a holiday.”

 

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Recent News

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How to protect your holiday as new countries added to the green travel list

25th June 2021

The Government has added new countries to the green travel list, including popular holiday destinations in Europe and the Caribbean

The Government has added new countries to the green travel list, including popular holiday destinations in Europe and the Caribbean

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Increase in travel insurers awarded top rating in the 2021 Moneyfacts Travel Insurance Star Ratings

9th June 2021

As uncertainty around travel continues, it has never been more important for holidaymakers to have the right travel insurance

As uncertainty around travel continues, it has never been more important for holidaymakers to have the right travel insurance

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What Covid-19 protection can you expect from your travel insurance?

18th May 2021

With travel restrictions now being lifted, holidaymakers are once again boarding flights for trips abroad, but consumers are being warned that their travel insurance may not provide as much financial protection against disruptions caused by the pandemic as they believe

Holidaymakers are once again boarding flights for trips abroad, but consumers are being warned that their travel insurance

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What you need to know about travelling abroad this summer

11th May 2021

From next week, international travel will once again be allowed for those living in England and many consumers are expected to book trips to jet off for long-awaited holidays

From next week, international travel will once again be allowed for those living in England and many consumers are expected to book trips to jet off

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Most Popular Travel News

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More than a fifth of Brits planning Jubilee holiday, says Barclaycard

10th May 2022

Just over one in five Brits are planning on taking a holiday during the upcoming Queen’s Jubilee weekend, according to Barclaycard’s latest Consumer Spending Index. Of this number, 84% of respondents are planning a trip abroad. “While concerns around rising household bills may continue to hamper spending on non-essential items, the upcoming Platinum Jubilee Weekend and summer months should provide opportunities for Brits to spend on celebrations and make the most of warmer weather,” said José Carvalho, Head of Consumer Products at Barclaycard.

Just over one in five Brits are planning on taking a holiday during the upcoming Queen’s Jubilee weekend, according to Barclaycard’s latest report.

Read More
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Should I use a loan to fund my holiday break?

9th April 2022

With the long Easter weekend fast approaching, and summer on the horizon, many of you are probably thinking of taking a city break. However, with the cost of living showing no signs of slowing down, financing this holiday could become complex for some families. This is why some are considering a personal loan, or “holiday loan”, to help finance their getaway trip. Below we have discussed what you should know if you are considering a holiday loan.

Matt Tristram, of Loans Warehouse, spoke to Moneyfacts about the advantages of using a “holiday loan” to finance your getaway.

Read More
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Quarter of income spent on holidays

1st June 2018

As another holiday season approaches, Nationwide’s latest Spending Report has revealed that Brits can spend up to a quarter of their annual disposable income on trips away each year, and many seem to have no desire to curb this spending.

As another holiday season approaches, Nationwide’s latest Spending Report has revealed that Brits can spend up to a quarter of their annual disposable income...

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Ease the cost of a trip abroad by avoiding card fees

4th April 2022

As the Easter Bank Holiday approaches, holidaymakers who are planning to take a trip to Europe may also want to plan how they are going to spend their cash abroad. As the options for travelling abroad expand for many consumers, the upcoming Bank Holiday could be the perfect time for a trip to Europe.

As the Easter Bank Holiday approaches, holidaymakers who are planning to take a trip to Europe may want to plan how they are going to spend their cash abroad.

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