July 15, 2024

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Travelling this Easter? Nearly half of respondents exceeded their budget whilst on a family holiday 

As the Easter holidays draw near and with over half (54%) of families gearing up for a holiday this year, Legal & General set out to uncover the evolving landscape of family holiday habits. Are multi-generational adventures still at the forefront of travel priorities? 

In a survey of over 2,000 UK adults, the findings unveil key family travel insights. Despite 42% of respondents carefully considering the cost of going away, a significant proportion find themselves exceeding their budget. A striking 47% admit to surpassing their budget while on holiday, with figures increasing to 56% in the North-East of England and 57% of respondents aged over 55. 

Key insights: 

  • Spain emerges as the favourite holiday destination, with 37% of respondents agreeing, closely followed by Italy at 32%.  
  • Families have allocated an average budget of £2,005 for their 2024 holiday, an increase from last year’s average of £1,944.  
  • 31% of respondents seek to escape from their daily routine, while a quarter express a heartfelt desire to strengthen familial bonds through shared experiences. 
  • The cost of a trip was the biggest barrier to going away- 42% said this was the number one factor behind a family holiday booking decision. 
  • 30% of respondents said they feel ‘stressed’ by the prospect of a family holiday, and this climbed to 36% of parents and 47% of guardians of children aged under 18. 

Paula Llewellyn, CMO and Managing Director (Direct) at Legal and General Retail comments: 

“As families start thinking about their travel plans this year, it’s clear that they aren’t just sticking to the tradition of holidaying together; they’re eagerly planning, saving, and putting memories at the top of their priority list. 

“Our previous research has shown that multigenerational living is on the rise, so it’s hardly surprising to see this crossing over into our family holidays. Even with tight budgets, families across the UK understand the benefits of these holidays. Cherishing the chance to make unforgettable memories with their nearest and dearest.” 

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