Revealed: 40% of Britons scrapped foreign holidays this year due to the cost-of-living crisis

• In a poll, just 53 per cent said they stuck to their plans of a foreign holiday
• And 58 per cent of those quizzed admitted they are spending more time at home
• READ MORE: Airline ‘lost’ my bag for two months but AirTag showed its location

Britons are scrapping their overseas holidays as they feel the pinch of the cost of living crisis.

Nearly 40 per cent of adults in the UK abandoned foreign holiday plans this year to stay at home and save money because of the cost-of-living crisis, according to a new survey.

Just over half (53 per cent) of those polled said they stuck to their jet-setting plans while almost one in ten (9.1 per cent) said they are still undecided.

Nearly three in five (58 per cent) of those quizzed admitted they are currently spending more time at home now compared to before the crisis.

Almost one third (32 per cent) said they are spending ‘a lot more time’ at home while just over a quarter (26 per cent) said it’s ‘a bit more time’.

Britons are scrapping their overseas holidays as they feel the pinch of the cost of living crisis, according to new research 

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The insights come from a survey commissioned by interior design business InteriorNet, which asked digital pollsters Find Out Now to conduct a UK-wide nationally-representative survey of 2,000 adults to study their responses to the cost-of-living crisis, covering topics ranging from spending on home improvements to altered travel plans.

InteriorNet commissioned the poll after noticing a spike in those searching its platform for affordable home design solutions.

The firm pairs owners or tenants wanting to transform their properties with interior designers ‘across all budgets’.

Less than half (43 per cent) of those polled said their lifestyle has managed to stay the same as before the crisis when it comes to going out.

Asked about other life aspects, one third (33 per cent) of young adults aged 18 to 24 in the study said they have shelved plans to move house due to the squeeze on their finances.

And 37 per cent of adults under 34 said they are now looking to spend money on sprucing up their current residence rather than moving house.

Sixty-nine per cent of respondents said they are now more conscious about the amount they spend on their home than before the crisis.

Nearly 40 per cent of adults in the UK scrapped foreign holiday plans this year to stay at home and save money because of the cost-of-living crisis, according to a new survey

Among them, 33 per cent said they are ‘much more conscious’, 23 per cent said they are ‘somewhat more conscious’ and 13 per cent said they are ‘slightly more conscious’.

This was more the case among young people in the study, in which 81 per cent of 25 to 34-year-olds said they are more conscious about spending money on their home.

Commenting on the results, founders Stella Pozzi and Sashola Prestcote said: ‘This poll gives a real insight into the stress the majority in the UK are feeling as a result of the cost-of-living crisis.

One third (33 per cent) of young adults aged 18 to 24 in the study said they have shelved plans to move house due to the squeeze on their finances

‘Many have scrapped foreign holiday plans and dreams of moving house. This means millions of people are spending more time at home than ever to save money.

‘We have noticed that they are therefore looking for affordable ways to spruce up their environment, calling on the scores of talented designers out there who can help advise how to make simple changes on a budget.

‘The survey illustrates the massive effects the crisis is having on normal people who are having to make fundamental changes to the way they live.’

Chris Holbrook, founder of Find Out Now, said the findings suggest that lifestyles in Britain are ‘very different to what they were just four years ago’.

He added: ‘We can see that many have been spending more time at home since the pandemic and the cost-of-living crisis has exacerbated that even further.’

COST-OF-LIVING CRISIS SURVEY – THE FULL RESULTS 

1. Have you put off plans you might have had to move house because of the cost-of-living crisis and falling house prices?

Yes: 19 per cent

No: 81 per cent

Thirty-three per cent of 18 to 24-year-olds have cancelled plans to move to a new home.

Twenty-three per cent of those in London vs nine per cent in Wales have said they had to cancel plans.

2. Has the squeeze meant that you are instead looking to improve your own home on a budget?

Yes: 29 per cent

No: 71 per cent

Thirty-seven per cent of 25 to 34-year-olds vs 22 per cent of 65-plus looking at improving their home as an alternative to finding a new one.

In the South East, only 20 per cent said they are vs 35 per cent in Wales.

3. To what extent are you being more conscious of how much you are spending on sprucing up your home in the cost-of-living crisis?

Much more conscious: 33 per cent

Somewhat more conscious: 23 per cent

Slightly more conscious: 13 per cent

Not any more conscious than before the crisis: 31 per cent

Younger people appear to be more conscious about spending money on their home (81 per cent of 25 to 34s vs 57 per cent of 65-plus).

Twenty-seven per cent of men vs 39 per cent of women say they’re ‘much more’ conscious of spending money on their homes.

4. How much more time are you spending at home because of the cost-of-living crisis?

A lot more time: 32 per cent

A bit more time: 26 per cent

No more time than before the crisis: 43 per cent

Twenty-five per cent of those in the AB socio-economic class vs 36 per cent in DE class say they’ll spend ‘a lot’ more time at home.

5. Did you skip a foreign holiday this year and stay at home?

Yes: 38 per cent

No: 53 per cent

Haven’t decided: 9.1 per cent

Source:  Find Out Now survey of 2,000 adults conducted between September 14 and 15, 2023. Commissioned by InteriorNet.

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