Brits On Spending Sprees While Abroad

Britons are defying the recession by spending freely while they’re holidaying overseas, it seems. That’s according to Thomson Holidays Foreign Exchange who polled respondents about their holiday spending habits.

Over half (57%) said they spend whatever they like once they get away and don’t bother to budget, spending surprisingly freely on meals and days out (65%) followed by wine and beer.

The research also found that over 41% of holidaymakers usually return with around £50 worth of unused foreign currency.

Thomson asked them about the worst souvenirs they’d bought while away: stuffed donkeys came out on top, followed by fridge magnets, sombreros, stuffed camels, and local wines and spirits. The even “more unusual” souvenirs included larger items such as digeridoos and Greek bouzoukis as well as reindeer meat and nodding popes.

Jeremy Osborne, financial service director at Tui UK & Ireland, said: “This research highlights that despite the economic situation, customers are not saving for their holiday spending money or budgeting whilst abroad.

“Holidays should be carefree and people work incredibly hard for their two weeks in the sun each year, so they should enjoy themselves.”

But he urged holidaymakers to budget by using pre-paid travel money cards rather than relying on credit cards.

“You can preload your budget before you go, or put on small amounts throughout the year and then use the card just like a debit card once you’re away,” he advised.

Timeshare owners traditionally have more funds available to spend on holiday because the holidays have been paid for up front, leaving more money to spend on sightseeing, car rental or meals out during the actual stay.

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