A survey has revealed that British holidaymakers routinely overspend during their holidays abroad, with the recession having no apparent impact on our desire to treat ourselves when we go away.
Travel website Skyscanner conducted the poll, and reveal that over 40 per cent of travellers spent more than they had budgeted during their last trip. A whopping 55 per cent underestimated the cost of food while on holiday, and overspent in that area, while almost one in three (30 per cent) splashed more cash on nights out than they had planned.
It really does appear that despite the harsh economic conditions at home, British holidaymakers are still willing to treat themselves when they go away, with the holiday remaining one of the areas where extravagant spending is still acceptable, perhaps reflecting the wider desire to forget our daily woes, of which money management can certainly be one, when we set off for our holidays.
And it seems that we Brits just cannot wait to get started on the spending when we cut loose for our vacations, with 20 per cent admitting to overspending on airport shopping before even leaving the country.
Budgeted holiday spend has increased in recent years as well, and a family of four now budgets to spend around £800 on average during a one-week holiday, with adults expecting to spend an average of £247 each during a week away.
Holiday overspend does differ depending on age and family, with young parents opting to spend less on themselves but more on their children during their holidays. And 18 to 25 year olds are the worst offenders when it comes to holiday spend, with 36 per cent admitting to spending £200 more than their holiday budget during a one-week break.