This report considers how consumers arrange to pay for things
when they holiday abroad. In 2010, UK residents made over 36
million holiday trips abroad, spending in total £22 billion when
overseas on food, drink, accommodation, leisure, etc. Knowing how
this £22 billion of spending power was transferred overseas is a
significant issue for the banking and financial services industry
and the UK economy as a whole.
When consumers venture overseas, they face a number of problems
surrounding how best to take money with them (notes, travellers'
cheques or card, for example) and how to budget for their overseas
spending and estimate the correct amount of spending power to take
This report assesses how consumers plan for the money they need
on their holiday, in what format they take their money abroad and
how they decide on the best source of foreign currency, travellers'
cheques and payment cards.
Over 20 questions were asked in total, covering the following
- Type of holiday taken in the past year
- Perceptions consumers have of the various means of taking
holiday money overseas
- Actions consumers normally take when they holiday abroad
- How consumers paid for things when going overseas
- Where and when foreign exchange/travellers' cheques/cash cards
- How well those using foreign exchange/travellers' cheques/cash
cards understand these products when buying
- Whether consumers search around for the best foreign
currency/travellers' cheques/cash card deals before using a
- How long before travelling consumers first arrange their
foreign currency/travellers' cheques
- How consumers use their credit cards overseas
- Source(s) consumers always or normally use for finding
information on holiday money
- How consumers budget for spending money on a holiday abroad
before they leave the UK
- How well consumers stick to their budget.
To download a table of contents for this report, click here.
To buy the Holiday Money report, click here.