New research shows that the cost of living crisis has not derailed the plans of Irish holidaymakers
While most of us are aware that the rising cost of living will impact our holiday plans this year, it seems that we are willing to work around it to get those much-needed days of rest and relaxation.
According to figures released earlier this month by the global technology company, Wise, 50% of Irish people plan to use savings to manage their travel expenses for their summer holiday, with 13% opting for credit cards and a further 12% considering personal loans. When respondents factored in travel, accommodation and general spending, they expect to spend €2,800 on average.
Securing the best deals
The research, which saw Censuswide independently poll 1,000 Irish holiday makers, shows that while Irish people don’t necessarily plan to curtail their holidays plans this year, they are spending longer researching options in hope of securing a better deal.
It also found that one third of respondents are more likely to travel to a cheaper destination than they previously would have. A further 17% said they will go away for less time.
Despite the fact that their travels could cost considerably more, the overall picture suggests that Irish holidaymakers are just as keen to travel as pre-pandemic, with 76% of people expecting to travel internationally, compared to 77% in 2019. In fact, this year:
- 32% of respondents will take at least one holiday
- 40% of respondents will take at least two holidays
- 10% of respondents will take at least four holidays
Stretching the budget
As most of us are expecting a more costly vacation this year, it’s unsurprising that over 40% of those polled said they will make a budget to manage their holiday expenses this year.
Irish people expect to pay an average:
- €728 – Accommodation
- €771 – Travel
- €501 – Food & drink
- €368 – Excursions
- €432 – Shopping
2023 Travel Trends
Do you prefer a beach holiday or city break? Or do you enjoy an action-packed week away?
According to the research, a beach holiday is top of the list for many Irish consumers, with over half selecting it as their holiday of choice. 70% of Irish travel will happen within Europe, with North America and the Caribbean ranking second and third respectively.
The results also reveal that 11% of Irish holiday makers are more likely to travel domestically than internationally, with 10% still undecided about where to go.