Tight budgets mean no holiday getaway for one in four UK adults this summer

New research from Go.Compare Travel has revealed that almost a quarter of British people (24%) won’t be going on holiday this year – with 43% of those saying they can’t afford to go.*

The survey, which questioned 2,000 people, cited unaffordability as the biggest factor in the decision not to holiday over the 12 months. 

Experts at Go.Compare say rising costs for things like travel, food and accommodation are proving too much of a squeeze on household budgets that are already stretched due to the cost of living.

Rhys Jones, spokesperson for Go.Compare Travel Insurance, said: “People planning their summer holidays this year are likely to see rising prices at a time when things are already tight for household spending. Airlines, hotels and restaurants are paying more for fuel, wages, food, energy, and imported goods which is driving the price of holidays up.

“If you are hoping to book a holiday, there are a few ways you can try and save money. Comparing flights, hotels, and package deals is a smart way to uncover the best value and being strategic about when you travel, how long you go for, and where you choose to visit can also lead to significant savings.

“But one thing is certain. If you are tempted to travel without travel insurance to cut costs, don’t. Travelling without insurance can quickly turn an exciting adventure into a costly experience.”

Here are Rhys’ five money-saving tips to keep costs down when booking a holiday:

Compare flights online:  Purchasing your flights through a travel agent can increase the overall cost of your trip. To save money, consider booking your own flights. Always research first so you know you are getting the best deal.

Compare hotels online and contact the hotel directly: Along with flights, you can also compare hotel prices online and potentially find the same room at lower prices. It’s also worth contacting the hotel directly and asking if they can offer you a better deal.

Sign up for travel provider newsletters: Many providers have their own newsletters where they talk about their best deals, hot topics, and travel news as well as discounted deals.

Travel off-peak: Holiday prices tend to increase significantly around school holidays, especially during the summer. If you’re able to travel outside peak times, you could make significant savings, as prices often fall sharply during off-peak periods.

Get your travel insurance immediately after booking: The right policy can protect you against any unforeseen costs and purchasing travel insurance immediately after you book your holiday generally gives you the most protection, as you’ll be covered for cancellation from the moment you buy it.

For more information about the different types of travel insurance, visit: https://www.gocompare.com/travel-insurance/