A poll of 1,000 parents of children up to age 16 who holiday abroad found 66% believe price increases have made it more difficult to get away. Leaving 69% having to get creative with their money to make trips overseas possible due to increased air fares.
Top tips to stretch budgets included booking flights and accommodation well in advance, packing snacks and essentials rather than buying them when you get there – and using comparison sites to hunt for the best deals.
According to research commissioned by travel insurance provider Staysure, families have had to cut their holiday budgets by an average of £941 in recent years, with the cost of a holiday now just over £2,800. As a result, 44% are now more likely to opt for a staycation than a trip abroad.
But with the average family having spent almost £300 to keep kids entertained during school holidays, even UK day trips can still put a real strain on budgets, with 57% looking for discounted tickets for theme parks and attractions.
It’s not just young families that are struggling to afford a trip abroad as 60% of over 65s also say a staycation is on the cards due to increased prices. While 75% of this age group also look for discounted day trip and attraction tickets when entertaining the grandchildren.
A spokesperson for Staysure, which has launched a rewards scheme offering customers access to 1.4 million worldwide hotel discounts and reduced entry fees to major UK attractions for 12 months when they purchase a policy, said: “Families long for holidays abroad, and need to entertain the kids with days out but rising costs are just squeezing what’s affordable for all generations.
“With children now back in school, thoughts will naturally turn to the October half term – and how families will once again afford to keep the kids busy often relying on grandparents to help out.
“Whether it’s a trip away or days out in the UK, the desire for cost savings will only increase as people look for more creative ways to maximise budgets – it’s a tricky juggling act.”
With holiday costs soaring, it only adds insult to injury by having to pay to secure seats to keep family members and kids next to you on a flight with respondents feeling annoyed (41%) and frustrated (32%).
While 44%t of over 65s went as far as to say they feel furious. And 40% feel it’s unfair that a child’s place on a flight can cost almost as much as an adult.
Of the 66% who have had to cut costs on holiday, it has come at the expense of eating out (32%), reducing their overall spending budget (31%), and sacrificing hotel upgrades or extras (28%). A further 28% have also had to cut back on souvenirs and shopping while away to keep budgets tight.
Of all those polled, 71% have previously been on an all-inclusive holiday, but 75% are now more likely to opt for self-catering holidays due to unaffordable price hikes during peak times.
Almost a third (30%) have taken their child out of school to make holidays cheaper, with 29% of those doing so frequently, for an average of five days at a time.
And 55% think they could be holidaying exclusively in the UK going forward due to increasing costs according to the OnePoll.com data.
A spokesperson from Staysure, which is offering a 20% discount on policies in September, added: “With costs creeping up at every turn it’s no wonder parents are feeling the pinch and making cutbacks to afford a family holiday. Many will already be counting the cost of having spent plenty of cash keeping their kids entertained over the past six weeks.
“With expensive day trips, cinema outings, excursions, and visits to theme parks all mounting up, these are areas where parents could make savings.”