Twelve per cent of people have delayed booking their holiday this year, whilst four per cent have booked a holiday in the UK instead of abroad because of Brexit uncertainty. A further three per cent have booked a holiday abroad but outside the EU, due to Brexit.
The research, released today by a leading online payment service provider, reveals a number of Brexit-related issues that are impacting holiday plans.
More than a third of holiday makers (36 per cent) are worried about foreign exchange rates as the pound continues to drop in value; 24 per cent are concerned about the overall stability of the UK economy and are not wanting to spend money; and the same number (24 per cent) cite uncertainty around what their insurance policies will and will not cover depending on the final detail of Britain’s exit from the EU.
A fifth of holiday-makers (20 per cent) express concern about their own passport requirements and validity when travelling abroad, and three per cent are concerned about future passport requirements when travelling with pets.
The impact of these concerns is profound. Almost half (45 per cent) of people with Brexit-related hoiday worries claim to feel frustrated, 31 per cent feel confused about what they should do in terms of planning holidays, and 30 per cent feel angry about the current situation.
The research shows that men are more likely to have altered their holiday plans than women (20 per cent, compared with 17 per cent), and people in London are most likely to have changed their plans (27 per cent) due to Brexit.
Jonas Reynisson, CEO of emerchantpay, who conducted the survey, said: “This research reveals some important insights for travel and holiday operators. Firstly, holiday booking patterns will be very different this year, with people delaying decisions until there is more clarity around Brexit and therefore more likely to be looking for last-minute deals. It also means that more people will be booking ‘staycations’ in the UK in order to avoid any potential travel chaos. Travel operators need to ensure they can be agile to respond to rapidly changing consumer needs and demands in order to exploit these different dynamics in the market.”
Overall, 60 per cent of people say their holiday plans have not been affected by Brexit, and a further 18% do not usually take holidays.
Jonas Reynisson, concluded: ‘Travel operators need to ensure they have robust systems to respond to fluctuating consumer demand and can rapidly scale their operations as required, whatever happens over the coming weeks and months in Westminster and Brussels.”
The research was conducted on by YouGov in association with emerchantpay.