Nearly half ‘saved up to £5,000 this year by missing usual holidays abroad’

Nearly half of people estimate they have saved up to £5,000 in 2020 by not holidaying abroad, a survey has found.

Some 46% surveyed by travel money specialists Caxton FX said they saved between £2,000 and £5,000 by not having a foreign holiday this year.

The survey of more than 11,100 of its cardholders in November also found that the majority would not be put off by holidays potentially becoming more expensive in the future.

More than two-thirds (67%) said they would not be deterred by potential higher holiday and insurance costs in the longer term.

Many insurers introduced coronavirus exclusion clauses in the early months of the pandemic.

And nearly three-quarters (73%) of people surveyed said they would not be put off by longer airport queues if additional checks are needed.

The same proportion (73%) would feel comfortable to travel abroad in 2021 if they had been vaccinated against coronavirus.

A third of Caxton’s customers said they would like to upgrade if possible to a better holiday in 2021, after missing out on their annual break this year.

Alana Parsons, chief operating officer at Caxton FX said: “Many of our customers missed out on their annual holiday abroad this year, so it’s no surprise that many are planning an extra special trip in 2021.”