Welsh families least likely to plan family holidays in 2024

New research from Legal & General reveals how the Welsh are approaching family holidays, amidst rising costs and financial pressure during the cost-of-living crisis.

The research shows Welsh families are the the region least likely to plan a family holiday this year, with only 35% saying they intend on going away, compared to 60% of those in Greater London, and 54% on average. However, the region is least likely to feel stressed when planning a holiday (23%), compared to those in Greater London (37%). So, while the Welsh may be going away less, the majority remain relaxed when the opportunity arises.

With this, 35% of Welsh respondents said the cost-of-living crisis has made them increase their focus on cost saving measures when it comes to planning a holiday. Personal financial situation (32%) and cost of the trip (41%) were the most cited reasons Welsh respondents gave that impacted their decision to book a holiday.

Are Welsh families still prioritising holidays? According to respondents, last year they spent an average of £2,051 on holidays, whilst the national average was £1,944. Welsh families have budgeted £2,150 for this year, with the national average being £2,005 for 2024 holidays.  

43% of Welsh respondents said they had exceeded their holiday budget, and when asked why this was 83% said it was because of food and drink expenses. This was the highest in the country, with the national average saying food and drink expenses being 68%.

These numbers are not an insignificant amount of money, highlighting that even though purse strings may be tight, spending their hard-earned money on holidays is still important for those in Wales. This may be because, 40% of Welsh respondents surveyed responded that their primary motivation for booking a family holiday was to create lasting memories.

In terms of preferred holidays, Wales was one of the top regions who most enjoyed a balance of short city breaks and longer breaks (36%). Whilst most other regions chose Spain as their top holiday destination, Wales was one of two regions who chose Italy as their top choice (34%).

With the summer fast approaching and the upcoming May bank holidays, Welsh families will be planning their upcoming holidays. We will see how they prioritise their holiday budgets this year, and what holiday trends will emerge in Wales this year.

For additional survey findings, please see: https://www.legalandgeneral.com/insurance/life-insurance/family-holiday-report/