How much spending money will you need on holiday?

How much spending money will you need on holiday?

author: Christine Walsh

By Christine Walsh

Excursions, nice meals out, cocktails, sunbed rental... you spend a lot on holiday. But just how much?


Last week, we looked at how holidaymakers overspend on their summer holidays, and because of this we thought it would be good to take a look at spending money – and how much people typically spend daily while they’re on holiday.

According to research* by Santander, the countries where holidaymakers spend the most are Barbados and United Arab Emirates. They claim that Brits spend more than £100 a day in spending money when they visit these countries– whereas holidaymakers in Poland and India only spend £30 a day on average.

Most expensive countries to visit when it comes to spending money

Country

Daily spend

% change 2010-2014

Barbados

£109

+38%

United Arab Emirates

£101

+35%

Austria

£92

-11%

Czech Republic

£92

+24%

Switzerland

£91

-11%

Belgium

£88

+12%

USA

£87

+21%

Luxembourg

£87

+40%

Netherlands

£81

+15%

Hong Kong

£78

+113%

Booking your holiday?

If you haven’t booked your summer holiday yet then you might want to think about how much spending money you’ll need/want to take to visit the particular country you’re thinking of. If money is tight then perhaps you’ll need to consider a cheap location if you feel you’ll need quite a bit of spending money on top of your flights and accommodation costs.

piggy-bank-calculator

How do people finance their holidays?

Santander’s researchers found that 60% of people are planning on using money in their current accounts to pay for their holiday abroad this summer, 30% are using money they’ve saved up, 18% are using a credit card and 8% are using a loan from a lender or their family in order to go away. Think carefully before using credit to fund a holiday - you need to be confident that you’ll be able to make your repayments. Failing to do this could cause you financial difficulty and affect your ability to get credit in the future.  It also worth thinking whether you’ll still be happy repaying the cost of your holiday months after you’ve returned and the tan has faded!

*based on ONS Travel Trends 2014 and research commissioned by Santander and conducted by Opinium Research 9-12 June 2015. Sample size 2,000+ UK adults.

Disclaimer: All information and links are correct at the time of publishing.

author: Christine Walsh

By Christine Walsh

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How much spending money will you need on holiday? How much spending money will you need on holiday?