Brits keen to spend COVID savings on travel but only if they can get their money back

Brits keen to spend COVID savings on travel but only if they can get their money back

Survey for price comparison site trivago finds holidaymakers are more concerned with financial security than their health

Research among British holidaymakers by Trivago has found a willingness to spend money saved during COVID on travel as long as there is a guarantee of getting their cash back.

The price comparison site worked with One Poll on the survey and found that travellers saved an average of £1,888 during the pandemic, with 8% saving over £5,000.

When asked what they have done with the money, 45% said they put it in a savings account, 22% treated themselves, 20% put it towards a large purchase and 19% put it towards rent or a deposit for a house.

Despite Brits saving money by being unable to travel during the pandemic, travellers are still more concerned about their finances than their health. 

The research found that 48% of UK travellers would make concrete plans if they could guarantee their money back should they get their holiday cancelled.

This compared with 33% who said they would be more likely to book if there was a guaranteed low risk of catching Covid-19.

As travel restrictions on travel have lifted the appetite to travel is recovering strongly, according the Trivago study. 

 Of those who usually have at least one holiday a year, 33% have already made firm plans to travel in 2022 and a further 21% have made tentative plans. 

In total, over a third (34%) say they have been researching future holidays more than before the pandemic. 

The study found the pandemic also increased Brits willingness to spend more on their travel.

Almost four-in-ten (37%) respondents said they plan on spending more on their holidays rising to 66% in 18- to 24-year-old age category. 

Where travellers live was found to have an impact on spending. Over half (55%) of Londoners are planning on spending more on their holidays this year but only 20% of travellers from East Anglia are willing to dig deeper into their wallet. 

In total, it was the over 65s who remained the most cautious, with 18% saying they will likely spend less than if the pandemic hadn’t happened.

Alex Hefer, chief executive of trivago, said: “Expectations are high that this could be the best summer ever. Of those who have firm plans to travel, over half (51%) believe that 2022 is going to be their best summer yet for travel. 

“Travellers are tired of waiting for a dream getaway. Three-in-ten (30%) told us they are planning on organising a ‘bucket list' holiday sooner than originally thought due to the pandemic.”